Correlation Between Anatolia Tani and Bms Birlesik
Can any of the company-specific risk be diversified away by investing in both Anatolia Tani and Bms Birlesik 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 Anatolia Tani and Bms Birlesik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anatolia Tani ve and Bms Birlesik Metal, you can compare the effects of market volatilities on Anatolia Tani and Bms Birlesik 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 Anatolia Tani with a short position of Bms Birlesik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anatolia Tani and Bms Birlesik.
Diversification Opportunities for Anatolia Tani and Bms Birlesik
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anatolia and Bms is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Anatolia Tani ve and Bms Birlesik Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bms Birlesik Metal and Anatolia Tani 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 Anatolia Tani ve are associated (or correlated) with Bms Birlesik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bms Birlesik Metal has no effect on the direction of Anatolia Tani i.e., Anatolia Tani and Bms Birlesik go up and down completely randomly.
Pair Corralation between Anatolia Tani and Bms Birlesik
Assuming the 90 days trading horizon Anatolia Tani is expected to generate 17.1 times less return on investment than Bms Birlesik. In addition to that, Anatolia Tani is 1.2 times more volatile than Bms Birlesik Metal. It trades about 0.01 of its total potential returns per unit of risk. Bms Birlesik Metal is currently generating about 0.13 per unit of volatility. If you would invest 1,186 in Bms Birlesik Metal on September 14, 2024 and sell it today you would earn a total of 1,776 from holding Bms Birlesik Metal or generate 149.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anatolia Tani ve vs. Bms Birlesik Metal
Performance |
| Timeline |
| Anatolia Tani ve |
| Bms Birlesik Metal |
Anatolia Tani and Bms Birlesik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anatolia Tani and Bms Birlesik
The main advantage of trading using opposite Anatolia Tani and Bms Birlesik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anatolia Tani position performs unexpectedly, Bms Birlesik 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 Bms Birlesik will offset losses from the drop in Bms Birlesik's long position.| Anatolia Tani vs. Bms Birlesik Metal | Anatolia Tani vs. Koza Anadolu Metal | Anatolia Tani vs. Politeknik Metal Sanayi | Anatolia Tani vs. Gentas Genel Metal |
| Bms Birlesik vs. Qnb Finansbank AS | Bms Birlesik vs. Borlease Otomotiv AS | Bms Birlesik vs. Gentas Genel Metal | Bms Birlesik vs. Koza Anadolu 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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