Correlation Between Birlik Mensucat and Mackolik Internet
Can any of the company-specific risk be diversified away by investing in both Birlik Mensucat and Mackolik Internet 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 Birlik Mensucat and Mackolik Internet into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Birlik Mensucat Ticaret and Mackolik Internet Hizmetleri, you can compare the effects of market volatilities on Birlik Mensucat and Mackolik Internet 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 Birlik Mensucat with a short position of Mackolik Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Birlik Mensucat and Mackolik Internet.
Diversification Opportunities for Birlik Mensucat and Mackolik Internet
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Birlik and Mackolik is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Birlik Mensucat Ticaret and Mackolik Internet Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mackolik Internet and Birlik Mensucat 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 Birlik Mensucat Ticaret are associated (or correlated) with Mackolik Internet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mackolik Internet has no effect on the direction of Birlik Mensucat i.e., Birlik Mensucat and Mackolik Internet go up and down completely randomly.
Pair Corralation between Birlik Mensucat and Mackolik Internet
Assuming the 90 days trading horizon Birlik Mensucat Ticaret is expected to generate 2.59 times more return on investment than Mackolik Internet. However, Birlik Mensucat is 2.59 times more volatile than Mackolik Internet Hizmetleri. It trades about 0.13 of its potential returns per unit of risk. Mackolik Internet Hizmetleri is currently generating about 0.27 per unit of risk. If you would invest 516.00 in Birlik Mensucat Ticaret on August 30, 2024 and sell it today you would earn a total of 134.00 from holding Birlik Mensucat Ticaret or generate 25.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 97.67% |
| Values | Daily Returns |
Birlik Mensucat Ticaret vs. Mackolik Internet Hizmetleri
Performance |
| Timeline |
| Birlik Mensucat Ticaret |
| Mackolik Internet |
Birlik Mensucat and Mackolik Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Birlik Mensucat and Mackolik Internet
The main advantage of trading using opposite Birlik Mensucat and Mackolik Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Birlik Mensucat position performs unexpectedly, Mackolik Internet 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 Mackolik Internet will offset losses from the drop in Mackolik Internet's long position.| Birlik Mensucat vs. Cuhadaroglu Metal Sanayi | Birlik Mensucat vs. Bms Birlesik Metal | Birlik Mensucat vs. Koza Anadolu Metal | Birlik Mensucat vs. Gentas Genel Metal |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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