Correlation Between Atlas Menkul and Ege Gubre
Can any of the company-specific risk be diversified away by investing in both Atlas Menkul and Ege Gubre 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 Ege Gubre 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 Ege Gubre Sanayi, you can compare the effects of market volatilities on Atlas Menkul and Ege Gubre 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 Ege Gubre. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlas Menkul and Ege Gubre.
Diversification Opportunities for Atlas Menkul and Ege Gubre
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Atlas and Ege is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Menkul Kiymetler and Ege Gubre Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ege Gubre Sanayi 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 Ege Gubre. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ege Gubre Sanayi has no effect on the direction of Atlas Menkul i.e., Atlas Menkul and Ege Gubre go up and down completely randomly.
Pair Corralation between Atlas Menkul and Ege Gubre
Assuming the 90 days trading horizon Atlas Menkul Kiymetler is expected to generate 1.53 times more return on investment than Ege Gubre. However, Atlas Menkul is 1.53 times more volatile than Ege Gubre Sanayi. It trades about -0.08 of its potential returns per unit of risk. Ege Gubre Sanayi is currently generating about -0.33 per unit of risk. If you would invest 598.00 in Atlas Menkul Kiymetler on November 28, 2024 and sell it today you would lose (44.00) from holding Atlas Menkul Kiymetler or give up 7.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atlas Menkul Kiymetler vs. Ege Gubre Sanayi
Performance |
| Timeline |
| Atlas Menkul Kiymetler |
| Ege Gubre Sanayi |
Atlas Menkul and Ege Gubre Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlas Menkul and Ege Gubre
The main advantage of trading using opposite Atlas Menkul and Ege Gubre positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlas Menkul position performs unexpectedly, Ege Gubre 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 Gubre will offset losses from the drop in Ege Gubre's long position.| Atlas Menkul vs. Bms Birlesik Metal | Atlas Menkul vs. Turkiye Kalkinma Bankasi | Atlas Menkul vs. E Data Teknoloji Pazarlama | Atlas Menkul vs. Koza Anadolu 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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