Correlation Between Atlas Menkul and SASA Polyester
Can any of the company-specific risk be diversified away by investing in both Atlas Menkul and SASA Polyester 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 SASA Polyester 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 SASA Polyester Sanayi, you can compare the effects of market volatilities on Atlas Menkul and SASA Polyester 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 SASA Polyester. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlas Menkul and SASA Polyester.
Diversification Opportunities for Atlas Menkul and SASA Polyester
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Atlas and SASA is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Menkul Kiymetler and SASA Polyester Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SASA Polyester 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 SASA Polyester. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SASA Polyester Sanayi has no effect on the direction of Atlas Menkul i.e., Atlas Menkul and SASA Polyester go up and down completely randomly.
Pair Corralation between Atlas Menkul and SASA Polyester
Assuming the 90 days trading horizon Atlas Menkul is expected to generate 2.05 times less return on investment than SASA Polyester. But when comparing it to its historical volatility, Atlas Menkul Kiymetler is 1.24 times less risky than SASA Polyester. It trades about 0.06 of its potential returns per unit of risk. SASA Polyester Sanayi is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 386.00 in SASA Polyester Sanayi on September 2, 2024 and sell it today you would earn a total of 19.00 from holding SASA Polyester Sanayi or generate 4.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atlas Menkul Kiymetler vs. SASA Polyester Sanayi
Performance |
| Timeline |
| Atlas Menkul Kiymetler |
| SASA Polyester Sanayi |
Atlas Menkul and SASA Polyester Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlas Menkul and SASA Polyester
The main advantage of trading using opposite Atlas Menkul and SASA Polyester positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlas Menkul position performs unexpectedly, SASA Polyester 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 SASA Polyester will offset losses from the drop in SASA Polyester's long position.| Atlas Menkul vs. Borlease Otomotiv AS | Atlas Menkul vs. MEGA METAL | Atlas Menkul vs. Politeknik Metal Sanayi | Atlas Menkul vs. Galatasaray Sportif Sinai |
| SASA Polyester vs. Hektas Ticaret TAS | SASA Polyester vs. Eregli Demir ve | SASA Polyester vs. Turkiye Sise ve | SASA Polyester vs. Turkiye Petrol Rafinerileri |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |