Correlation Between Birikim Varlik and Atlas Menkul
Can any of the company-specific risk be diversified away by investing in both Birikim Varlik and Atlas Menkul 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 Birikim Varlik and Atlas Menkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Birikim Varlik Yonetim and Atlas Menkul Kiymetler, you can compare the effects of market volatilities on Birikim Varlik and Atlas Menkul 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 Birikim Varlik with a short position of Atlas Menkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Birikim Varlik and Atlas Menkul.
Diversification Opportunities for Birikim Varlik and Atlas Menkul
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Birikim and Atlas is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Birikim Varlik Yonetim and Atlas Menkul Kiymetler in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlas Menkul Kiymetler and Birikim Varlik 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 Birikim Varlik Yonetim are associated (or correlated) with Atlas Menkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlas Menkul Kiymetler has no effect on the direction of Birikim Varlik i.e., Birikim Varlik and Atlas Menkul go up and down completely randomly.
Pair Corralation between Birikim Varlik and Atlas Menkul
Assuming the 90 days trading horizon Birikim Varlik Yonetim is expected to generate 1.16 times more return on investment than Atlas Menkul. However, Birikim Varlik is 1.16 times more volatile than Atlas Menkul Kiymetler. It trades about 0.05 of its potential returns per unit of risk. Atlas Menkul Kiymetler is currently generating about 0.01 per unit of risk. If you would invest 4,720 in Birikim Varlik Yonetim on September 2, 2024 and sell it today you would earn a total of 355.00 from holding Birikim Varlik Yonetim or generate 7.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Birikim Varlik Yonetim vs. Atlas Menkul Kiymetler
Performance |
| Timeline |
| Birikim Varlik Yonetim |
| Atlas Menkul Kiymetler |
Birikim Varlik and Atlas Menkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Birikim Varlik and Atlas Menkul
The main advantage of trading using opposite Birikim Varlik and Atlas Menkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Birikim Varlik position performs unexpectedly, Atlas Menkul 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 Atlas Menkul will offset losses from the drop in Atlas Menkul's long position.| Birikim Varlik vs. Verusa Holding AS | Birikim Varlik vs. Guler Yatirim Holding | Birikim Varlik vs. Verusaturk Girisim Sermayesi | Birikim Varlik vs. Yesil Yatirim Holding |
| Atlas Menkul vs. Borlease Otomotiv AS | Atlas Menkul vs. MEGA METAL | Atlas Menkul vs. Politeknik Metal Sanayi | Atlas Menkul vs. Galatasaray Sportif Sinai |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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