Correlation Between Bayrak EBT and Birikim Varlik
Can any of the company-specific risk be diversified away by investing in both Bayrak EBT and Birikim Varlik 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 Bayrak EBT and Birikim Varlik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bayrak EBT Taban and Birikim Varlik Yonetim, you can compare the effects of market volatilities on Bayrak EBT and Birikim Varlik 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 Bayrak EBT with a short position of Birikim Varlik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bayrak EBT and Birikim Varlik.
Diversification Opportunities for Bayrak EBT and Birikim Varlik
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Bayrak and Birikim is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Bayrak EBT Taban and Birikim Varlik Yonetim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Birikim Varlik Yonetim and Bayrak EBT 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 Bayrak EBT Taban are associated (or correlated) with Birikim Varlik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Birikim Varlik Yonetim has no effect on the direction of Bayrak EBT i.e., Bayrak EBT and Birikim Varlik go up and down completely randomly.
Pair Corralation between Bayrak EBT and Birikim Varlik
Assuming the 90 days trading horizon Bayrak EBT Taban is expected to under-perform the Birikim Varlik. But the stock apears to be less risky and, when comparing its historical volatility, Bayrak EBT Taban is 1.0 times less risky than Birikim Varlik. The stock trades about -0.08 of its potential returns per unit of risk. The Birikim Varlik Yonetim is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 4,810 in Birikim Varlik Yonetim on August 31, 2024 and sell it today you would earn a total of 100.00 from holding Birikim Varlik Yonetim or generate 2.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bayrak EBT Taban vs. Birikim Varlik Yonetim
Performance |
| Timeline |
| Bayrak EBT Taban |
| Birikim Varlik Yonetim |
Bayrak EBT and Birikim Varlik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bayrak EBT and Birikim Varlik
The main advantage of trading using opposite Bayrak EBT and Birikim Varlik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bayrak EBT position performs unexpectedly, Birikim Varlik 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 Birikim Varlik will offset losses from the drop in Birikim Varlik's long position.| Bayrak EBT vs. Cuhadaroglu Metal Sanayi | Bayrak EBT vs. E Data Teknoloji Pazarlama | Bayrak EBT vs. Bms Birlesik Metal | Bayrak EBT vs. Akbank TAS |
| Birikim Varlik vs. Verusa Holding AS | Birikim Varlik vs. Guler Yatirim Holding | Birikim Varlik vs. Verusaturk Girisim Sermayesi | Birikim Varlik vs. Yesil Yatirim Holding |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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