Correlation Between Atlas Menkul and GSD Holding
Can any of the company-specific risk be diversified away by investing in both Atlas Menkul and GSD Holding 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 GSD Holding 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 GSD Holding AS, you can compare the effects of market volatilities on Atlas Menkul and GSD Holding 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 GSD Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlas Menkul and GSD Holding.
Diversification Opportunities for Atlas Menkul and GSD Holding
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Atlas and GSD is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Menkul Kiymetler and GSD Holding AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GSD Holding AS 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 GSD Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GSD Holding AS has no effect on the direction of Atlas Menkul i.e., Atlas Menkul and GSD Holding go up and down completely randomly.
Pair Corralation between Atlas Menkul and GSD Holding
Assuming the 90 days trading horizon Atlas Menkul Kiymetler is expected to generate 2.89 times more return on investment than GSD Holding. However, Atlas Menkul is 2.89 times more volatile than GSD Holding AS. It trades about -0.08 of its potential returns per unit of risk. GSD Holding AS is currently generating about -0.32 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 Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atlas Menkul Kiymetler vs. GSD Holding AS
Performance |
| Timeline |
| Atlas Menkul Kiymetler |
| GSD Holding AS |
Atlas Menkul and GSD Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlas Menkul and GSD Holding
The main advantage of trading using opposite Atlas Menkul and GSD Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlas Menkul position performs unexpectedly, GSD Holding 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 GSD Holding will offset losses from the drop in GSD Holding'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 |
| GSD Holding vs. Cuhadaroglu Metal Sanayi | GSD Holding vs. MEGA METAL | GSD Holding vs. Trabzonspor Sportif Yatirim | GSD Holding vs. KOC METALURJI |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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