Correlation Between Anadolu Hayat and Ege Endustri
Can any of the company-specific risk be diversified away by investing in both Anadolu Hayat and Ege Endustri 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 Anadolu Hayat and Ege Endustri into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Anadolu Hayat Emeklilik and Ege Endustri ve, you can compare the effects of market volatilities on Anadolu Hayat and Ege Endustri 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 Anadolu Hayat with a short position of Ege Endustri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anadolu Hayat and Ege Endustri.
Diversification Opportunities for Anadolu Hayat and Ege Endustri
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Anadolu and Ege is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Anadolu Hayat Emeklilik and Ege Endustri ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ege Endustri ve and Anadolu Hayat 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 Anadolu Hayat Emeklilik are associated (or correlated) with Ege Endustri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ege Endustri ve has no effect on the direction of Anadolu Hayat i.e., Anadolu Hayat and Ege Endustri go up and down completely randomly.
Pair Corralation between Anadolu Hayat and Ege Endustri
Assuming the 90 days trading horizon Anadolu Hayat Emeklilik is expected to generate 1.21 times more return on investment than Ege Endustri. However, Anadolu Hayat is 1.21 times more volatile than Ege Endustri ve. It trades about -0.06 of its potential returns per unit of risk. Ege Endustri ve is currently generating about -0.16 per unit of risk. If you would invest 10,310 in Anadolu Hayat Emeklilik on November 4, 2024 and sell it today you would lose (360.00) from holding Anadolu Hayat Emeklilik or give up 3.49% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anadolu Hayat Emeklilik vs. Ege Endustri ve
Performance |
| Timeline |
| Anadolu Hayat Emeklilik |
| Ege Endustri ve |
Anadolu Hayat and Ege Endustri Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anadolu Hayat and Ege Endustri
The main advantage of trading using opposite Anadolu Hayat and Ege Endustri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anadolu Hayat position performs unexpectedly, Ege Endustri 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 Ege Endustri will offset losses from the drop in Ege Endustri's long position.| Anadolu Hayat vs. Aksa Akrilik Kimya | Anadolu Hayat vs. Tofas Turk Otomobil | Anadolu Hayat vs. AK Sigorta AS | Anadolu Hayat vs. Is Yatirim Menkul |
| Ege Endustri vs. Ford Otomotiv Sanayi | Ege Endustri vs. Tofas Turk Otomobil | Ege Endustri vs. Hektas Ticaret TAS | Ege Endustri vs. Eregli Demir ve |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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