Correlation Between BINHO and Bilici Yatirim
Can any of the company-specific risk be diversified away by investing in both BINHO and Bilici Yatirim 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 BINHO and Bilici Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BINHO and Bilici Yatirim Sanayi, you can compare the effects of market volatilities on BINHO and Bilici Yatirim 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 BINHO with a short position of Bilici Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of BINHO and Bilici Yatirim.
Diversification Opportunities for BINHO and Bilici Yatirim
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between BINHO and Bilici is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding BINHO and Bilici Yatirim Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bilici Yatirim Sanayi and BINHO 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 BINHO are associated (or correlated) with Bilici Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bilici Yatirim Sanayi has no effect on the direction of BINHO i.e., BINHO and Bilici Yatirim go up and down completely randomly.
Pair Corralation between BINHO and Bilici Yatirim
Assuming the 90 days trading horizon BINHO is expected to under-perform the Bilici Yatirim. In addition to that, BINHO is 1.23 times more volatile than Bilici Yatirim Sanayi. It trades about -0.12 of its total potential returns per unit of risk. Bilici Yatirim Sanayi is currently generating about -0.1 per unit of volatility. If you would invest 2,232 in Bilici Yatirim Sanayi on November 3, 2024 and sell it today you would lose (609.00) from holding Bilici Yatirim Sanayi or give up 27.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.22% |
| Values | Daily Returns |
BINHO vs. Bilici Yatirim Sanayi
Performance |
| Timeline |
| BINHO |
| Bilici Yatirim Sanayi |
BINHO and Bilici Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BINHO and Bilici Yatirim
The main advantage of trading using opposite BINHO and Bilici Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BINHO position performs unexpectedly, Bilici Yatirim 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 Bilici Yatirim will offset losses from the drop in Bilici Yatirim's long position.| BINHO vs. Cuhadaroglu Metal Sanayi | BINHO vs. Borlease Otomotiv AS | BINHO vs. Qnb Finansbank AS | BINHO vs. Creditwest Faktoring AS |
| Bilici Yatirim vs. Koc Holding AS | Bilici Yatirim vs. Turkish Airlines | Bilici Yatirim vs. Turkiye Garanti Bankasi | Bilici Yatirim 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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