Correlation Between Ata Gayrimenkul and Koza Anadolu
Can any of the company-specific risk be diversified away by investing in both Ata Gayrimenkul and Koza Anadolu 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 Ata Gayrimenkul and Koza Anadolu into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ata Gayrimenkul Yatirim and Koza Anadolu Metal, you can compare the effects of market volatilities on Ata Gayrimenkul and Koza Anadolu 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 Ata Gayrimenkul with a short position of Koza Anadolu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ata Gayrimenkul and Koza Anadolu.
Diversification Opportunities for Ata Gayrimenkul and Koza Anadolu
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Ata and Koza is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Ata Gayrimenkul Yatirim and Koza Anadolu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koza Anadolu Metal and Ata Gayrimenkul 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 Ata Gayrimenkul Yatirim are associated (or correlated) with Koza Anadolu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koza Anadolu Metal has no effect on the direction of Ata Gayrimenkul i.e., Ata Gayrimenkul and Koza Anadolu go up and down completely randomly.
Pair Corralation between Ata Gayrimenkul and Koza Anadolu
Assuming the 90 days trading horizon Ata Gayrimenkul Yatirim is expected to generate 0.98 times more return on investment than Koza Anadolu. However, Ata Gayrimenkul Yatirim is 1.02 times less risky than Koza Anadolu. It trades about 0.06 of its potential returns per unit of risk. Koza Anadolu Metal is currently generating about 0.03 per unit of risk. If you would invest 503.00 in Ata Gayrimenkul Yatirim on September 14, 2024 and sell it today you would earn a total of 629.00 from holding Ata Gayrimenkul Yatirim or generate 125.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ata Gayrimenkul Yatirim vs. Koza Anadolu Metal
Performance |
| Timeline |
| Ata Gayrimenkul Yatirim |
| Koza Anadolu Metal |
Ata Gayrimenkul and Koza Anadolu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ata Gayrimenkul and Koza Anadolu
The main advantage of trading using opposite Ata Gayrimenkul and Koza Anadolu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ata Gayrimenkul position performs unexpectedly, Koza Anadolu 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 Koza Anadolu will offset losses from the drop in Koza Anadolu's long position.| Ata Gayrimenkul vs. Koza Anadolu Metal | Ata Gayrimenkul vs. CEO Event Medya | Ata Gayrimenkul vs. Bms Birlesik Metal | Ata Gayrimenkul vs. Cuhadaroglu Metal Sanayi |
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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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