Correlation Between Atlas Menkul and Bayrak EBT
Can any of the company-specific risk be diversified away by investing in both Atlas Menkul and Bayrak EBT 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 Atlas Menkul and Bayrak EBT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atlas Menkul Kiymetler and Bayrak EBT Taban, you can compare the effects of market volatilities on Atlas Menkul and Bayrak EBT 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 Atlas Menkul with a short position of Bayrak EBT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlas Menkul and Bayrak EBT.
Diversification Opportunities for Atlas Menkul and Bayrak EBT
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Atlas and Bayrak is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Menkul Kiymetler and Bayrak EBT Taban in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bayrak EBT Taban and Atlas Menkul 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 Atlas Menkul Kiymetler are associated (or correlated) with Bayrak EBT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bayrak EBT Taban has no effect on the direction of Atlas Menkul i.e., Atlas Menkul and Bayrak EBT go up and down completely randomly.
Pair Corralation between Atlas Menkul and Bayrak EBT
Assuming the 90 days trading horizon Atlas Menkul Kiymetler is expected to generate 1.1 times more return on investment than Bayrak EBT. However, Atlas Menkul is 1.1 times more volatile than Bayrak EBT Taban. It trades about 0.17 of its potential returns per unit of risk. Bayrak EBT Taban is currently generating about -0.08 per unit of risk. If you would invest 521.00 in Atlas Menkul Kiymetler on August 31, 2024 and sell it today you would earn a total of 53.00 from holding Atlas Menkul Kiymetler or generate 10.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Atlas Menkul Kiymetler vs. Bayrak EBT Taban
Performance |
| Timeline |
| Atlas Menkul Kiymetler |
| Bayrak EBT Taban |
Atlas Menkul and Bayrak EBT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlas Menkul and Bayrak EBT
The main advantage of trading using opposite Atlas Menkul and Bayrak EBT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlas Menkul position performs unexpectedly, Bayrak EBT 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 Bayrak EBT will offset losses from the drop in Bayrak EBT's long position.| Atlas Menkul vs. Silverline Endustri ve | Atlas Menkul vs. Gentas Genel Metal | Atlas Menkul vs. MEGA METAL | Atlas Menkul vs. Bms Birlesik Metal |
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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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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