Correlation Between Aksu Enerji and Merko Gida
Can any of the company-specific risk be diversified away by investing in both Aksu Enerji and Merko Gida at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Aksu Enerji and Merko Gida into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aksu Enerji ve and Merko Gida Sanayi, you can compare the effects of market volatilities on Aksu Enerji and Merko Gida and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Aksu Enerji with a short position of Merko Gida. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aksu Enerji and Merko Gida.
Diversification Opportunities for Aksu Enerji and Merko Gida
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aksu and Merko is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Aksu Enerji ve and Merko Gida Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Merko Gida Sanayi and Aksu Enerji is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Aksu Enerji ve are associated (or correlated) with Merko Gida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Merko Gida Sanayi has no effect on the direction of Aksu Enerji i.e., Aksu Enerji and Merko Gida go up and down completely randomly.
Pair Corralation between Aksu Enerji and Merko Gida
Assuming the 90 days trading horizon Aksu Enerji ve is expected to generate 0.87 times more return on investment than Merko Gida. However, Aksu Enerji ve is 1.15 times less risky than Merko Gida. It trades about 0.22 of its potential returns per unit of risk. Merko Gida Sanayi is currently generating about 0.04 per unit of risk. If you would invest 1,090 in Aksu Enerji ve on August 27, 2024 and sell it today you would earn a total of 150.00 from holding Aksu Enerji ve or generate 13.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aksu Enerji ve vs. Merko Gida Sanayi
Performance |
| Timeline |
| Aksu Enerji ve |
| Merko Gida Sanayi |
Aksu Enerji and Merko Gida Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aksu Enerji and Merko Gida
The main advantage of trading using opposite Aksu Enerji and Merko Gida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aksu Enerji position performs unexpectedly, Merko Gida can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Merko Gida will offset losses from the drop in Merko Gida's long position.| Aksu Enerji vs. Aksa Akrilik Kimya | Aksu Enerji vs. Turkiye Sise ve | Aksu Enerji vs. Hektas Ticaret TAS | Aksu Enerji vs. SASA Polyester Sanayi |
| Merko Gida vs. Politeknik Metal Sanayi | Merko Gida vs. Sodas Sodyum Sanayi | Merko Gida vs. ICBC Turkey Bank | Merko Gida vs. Bms Birlesik Metal |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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