Correlation Between Bms Birlesik and Birikim Varlik
Can any of the company-specific risk be diversified away by investing in both Bms Birlesik 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 Bms Birlesik and Birikim Varlik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bms Birlesik Metal and Birikim Varlik Yonetim, you can compare the effects of market volatilities on Bms Birlesik 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 Bms Birlesik with a short position of Birikim Varlik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bms Birlesik and Birikim Varlik.
Diversification Opportunities for Bms Birlesik and Birikim Varlik
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bms and Birikim is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Bms Birlesik Metal 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 Bms Birlesik 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 Bms Birlesik Metal 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 Bms Birlesik i.e., Bms Birlesik and Birikim Varlik go up and down completely randomly.
Pair Corralation between Bms Birlesik and Birikim Varlik
Assuming the 90 days trading horizon Bms Birlesik Metal is expected to generate 0.82 times more return on investment than Birikim Varlik. However, Bms Birlesik Metal is 1.22 times less risky than Birikim Varlik. It trades about 0.17 of its potential returns per unit of risk. Birikim Varlik Yonetim is currently generating about 0.04 per unit of risk. If you would invest 2,325 in Bms Birlesik Metal on September 12, 2024 and sell it today you would earn a total of 691.00 from holding Bms Birlesik Metal or generate 29.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Bms Birlesik Metal vs. Birikim Varlik Yonetim
Performance |
| Timeline |
| Bms Birlesik Metal |
| Birikim Varlik Yonetim |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
Bms Birlesik and Birikim Varlik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bms Birlesik and Birikim Varlik
The main advantage of trading using opposite Bms Birlesik and Birikim Varlik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bms Birlesik 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.| Bms Birlesik vs. Turkiye Kalkinma Bankasi | Bms Birlesik vs. Gentas Genel Metal | Bms Birlesik vs. Sekerbank TAS | Bms Birlesik vs. Sodas Sodyum Sanayi |
| Birikim Varlik vs. Politeknik Metal Sanayi | Birikim Varlik vs. Datagate Bilgisayar Malzemeleri | Birikim Varlik vs. Cuhadaroglu Metal Sanayi | Birikim Varlik vs. MEGA METAL |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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