Correlation Between Aksu Enerji and MMC Sanayi
Can any of the company-specific risk be diversified away by investing in both Aksu Enerji and MMC Sanayi 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 MMC Sanayi 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 MMC Sanayi ve, you can compare the effects of market volatilities on Aksu Enerji and MMC Sanayi 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 MMC Sanayi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aksu Enerji and MMC Sanayi.
Diversification Opportunities for Aksu Enerji and MMC Sanayi
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aksu and MMC is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Aksu Enerji ve and MMC Sanayi ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MMC Sanayi ve 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 MMC Sanayi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MMC Sanayi ve has no effect on the direction of Aksu Enerji i.e., Aksu Enerji and MMC Sanayi go up and down completely randomly.
Pair Corralation between Aksu Enerji and MMC Sanayi
Assuming the 90 days trading horizon Aksu Enerji ve is expected to under-perform the MMC Sanayi. In addition to that, Aksu Enerji is 1.02 times more volatile than MMC Sanayi ve. It trades about -0.01 of its total potential returns per unit of risk. MMC Sanayi ve is currently generating about 0.09 per unit of volatility. If you would invest 459.00 in MMC Sanayi ve on October 24, 2024 and sell it today you would earn a total of 1,881 from holding MMC Sanayi ve or generate 409.8% 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. MMC Sanayi ve
Performance |
| Timeline |
| Aksu Enerji ve |
| MMC Sanayi ve |
Aksu Enerji and MMC Sanayi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aksu Enerji and MMC Sanayi
The main advantage of trading using opposite Aksu Enerji and MMC Sanayi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aksu Enerji position performs unexpectedly, MMC Sanayi 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 MMC Sanayi will offset losses from the drop in MMC Sanayi's long position.| Aksu Enerji vs. Cuhadaroglu Metal Sanayi | Aksu Enerji vs. Koza Anadolu Metal | Aksu Enerji vs. KOC METALURJI | Aksu Enerji vs. Galatasaray Sportif Sinai |
| MMC Sanayi vs. KOC METALURJI | MMC Sanayi vs. Mackolik Internet Hizmetleri | MMC Sanayi vs. Politeknik Metal Sanayi | MMC Sanayi vs. Cuhadaroglu Metal Sanayi |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |