Correlation Between Birikim Varlik and E Data
Can any of the company-specific risk be diversified away by investing in both Birikim Varlik and E Data 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 E Data 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 E Data Teknoloji Pazarlama, you can compare the effects of market volatilities on Birikim Varlik and E Data 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 E Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Birikim Varlik and E Data.
Diversification Opportunities for Birikim Varlik and E Data
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Birikim and EDATA is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Birikim Varlik Yonetim and E Data Teknoloji Pazarlama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Data Teknoloji 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 E Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Data Teknoloji has no effect on the direction of Birikim Varlik i.e., Birikim Varlik and E Data go up and down completely randomly.
Pair Corralation between Birikim Varlik and E Data
Assuming the 90 days trading horizon Birikim Varlik Yonetim is expected to generate 1.38 times more return on investment than E Data. However, Birikim Varlik is 1.38 times more volatile than E Data Teknoloji Pazarlama. It trades about 0.01 of its potential returns per unit of risk. E Data Teknoloji Pazarlama is currently generating about -0.02 per unit of risk. If you would invest 6,005 in Birikim Varlik Yonetim on December 4, 2024 and sell it today you would lose (55.00) from holding Birikim Varlik Yonetim or give up 0.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Birikim Varlik Yonetim vs. E Data Teknoloji Pazarlama
Performance |
| Timeline |
| Birikim Varlik Yonetim |
| E Data Teknoloji |
Birikim Varlik and E Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Birikim Varlik and E Data
The main advantage of trading using opposite Birikim Varlik and E Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Birikim Varlik position performs unexpectedly, E Data 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 E Data will offset losses from the drop in E Data's long position.| Birikim Varlik vs. Turkiye Kalkinma Bankasi | Birikim Varlik vs. Bms Birlesik Metal | Birikim Varlik vs. Koza Anadolu Metal | Birikim Varlik vs. Cuhadaroglu Metal Sanayi |
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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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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