Correlation Between Bosch Fren and Is Finansal
Can any of the company-specific risk be diversified away by investing in both Bosch Fren and Is Finansal 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 Bosch Fren and Is Finansal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bosch Fren Sistemleri and Is Finansal Kiralama, you can compare the effects of market volatilities on Bosch Fren and Is Finansal 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 Bosch Fren with a short position of Is Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bosch Fren and Is Finansal.
Diversification Opportunities for Bosch Fren and Is Finansal
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bosch and ISFIN is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Bosch Fren Sistemleri and Is Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Is Finansal Kiralama and Bosch Fren 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 Bosch Fren Sistemleri are associated (or correlated) with Is Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Is Finansal Kiralama has no effect on the direction of Bosch Fren i.e., Bosch Fren and Is Finansal go up and down completely randomly.
Pair Corralation between Bosch Fren and Is Finansal
Assuming the 90 days trading horizon Bosch Fren Sistemleri is expected to under-perform the Is Finansal. But the stock apears to be less risky and, when comparing its historical volatility, Bosch Fren Sistemleri is 1.56 times less risky than Is Finansal. The stock trades about -0.29 of its potential returns per unit of risk. The Is Finansal Kiralama is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 1,103 in Is Finansal Kiralama on September 14, 2024 and sell it today you would earn a total of 135.00 from holding Is Finansal Kiralama or generate 12.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Bosch Fren Sistemleri vs. Is Finansal Kiralama
Performance |
| Timeline |
| Bosch Fren Sistemleri |
| Is Finansal Kiralama |
Bosch Fren and Is Finansal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bosch Fren and Is Finansal
The main advantage of trading using opposite Bosch Fren and Is Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bosch Fren position performs unexpectedly, Is Finansal 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 Is Finansal will offset losses from the drop in Is Finansal's long position.| Bosch Fren vs. Politeknik Metal Sanayi | Bosch Fren vs. Bms Birlesik Metal | Bosch Fren vs. Cuhadaroglu Metal Sanayi | Bosch Fren vs. MEGA METAL |
| Is Finansal vs. Is Gayrimenkul Yatirim | Is Finansal vs. Tekfen Holding AS | Is Finansal vs. Turkiye Sinai Kalkinma | Is Finansal vs. Kardemir Karabuk Demir |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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