Correlation Between Anel Elektrik and E Data
Can any of the company-specific risk be diversified away by investing in both Anel Elektrik and E Data 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 Anel Elektrik and E Data into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anel Elektrik Proje and E Data Teknoloji Pazarlama, you can compare the effects of market volatilities on Anel Elektrik and E Data 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 Anel Elektrik with a short position of E Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anel Elektrik and E Data.
Diversification Opportunities for Anel Elektrik and E Data
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anel and EDATA is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Anel Elektrik Proje and E Data Teknoloji Pazarlama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Data Teknoloji and Anel Elektrik 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 Anel Elektrik Proje are associated (or correlated) with E Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Data Teknoloji has no effect on the direction of Anel Elektrik i.e., Anel Elektrik and E Data go up and down completely randomly.
Pair Corralation between Anel Elektrik and E Data
Assuming the 90 days trading horizon Anel Elektrik Proje is expected to generate 1.36 times more return on investment than E Data. However, Anel Elektrik is 1.36 times more volatile than E Data Teknoloji Pazarlama. It trades about 0.06 of its potential returns per unit of risk. E Data Teknoloji Pazarlama is currently generating about -0.21 per unit of risk. If you would invest 1,260 in Anel Elektrik Proje on September 2, 2024 and sell it today you would earn a total of 106.00 from holding Anel Elektrik Proje or generate 8.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anel Elektrik Proje vs. E Data Teknoloji Pazarlama
Performance |
| Timeline |
| Anel Elektrik Proje |
| E Data Teknoloji |
Anel Elektrik and E Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anel Elektrik and E Data
The main advantage of trading using opposite Anel Elektrik and E Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anel Elektrik position performs unexpectedly, E Data 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 E Data will offset losses from the drop in E Data's long position.| Anel Elektrik vs. E Data Teknoloji Pazarlama | Anel Elektrik vs. Borlease Otomotiv AS | Anel Elektrik vs. Cuhadaroglu Metal Sanayi | Anel Elektrik vs. Silverline Endustri ve |
| E Data vs. MEGA METAL | E Data vs. Koza Anadolu Metal | E Data vs. Turkiye Kalkinma Bankasi | E Data vs. Akcansa Cimento 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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