Correlation Between Borusan Yatirim and Ayes Celik
Can any of the company-specific risk be diversified away by investing in both Borusan Yatirim and Ayes Celik 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 Borusan Yatirim and Ayes Celik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Borusan Yatirim ve and Ayes Celik Hasir, you can compare the effects of market volatilities on Borusan Yatirim and Ayes Celik 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 Borusan Yatirim with a short position of Ayes Celik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Borusan Yatirim and Ayes Celik.
Diversification Opportunities for Borusan Yatirim and Ayes Celik
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Borusan and Ayes is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Borusan Yatirim ve and Ayes Celik Hasir in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ayes Celik Hasir and Borusan Yatirim 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 Borusan Yatirim ve are associated (or correlated) with Ayes Celik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ayes Celik Hasir has no effect on the direction of Borusan Yatirim i.e., Borusan Yatirim and Ayes Celik go up and down completely randomly.
Pair Corralation between Borusan Yatirim and Ayes Celik
Assuming the 90 days trading horizon Borusan Yatirim ve is expected to under-perform the Ayes Celik. But the stock apears to be less risky and, when comparing its historical volatility, Borusan Yatirim ve is 1.06 times less risky than Ayes Celik. The stock trades about -0.01 of its potential returns per unit of risk. The Ayes Celik Hasir is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 672.00 in Ayes Celik Hasir on September 3, 2024 and sell it today you would earn a total of 173.00 from holding Ayes Celik Hasir or generate 25.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Borusan Yatirim ve vs. Ayes Celik Hasir
Performance |
| Timeline |
| Borusan Yatirim ve |
| Ayes Celik Hasir |
Borusan Yatirim and Ayes Celik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Borusan Yatirim and Ayes Celik
The main advantage of trading using opposite Borusan Yatirim and Ayes Celik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Borusan Yatirim position performs unexpectedly, Ayes Celik 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 Ayes Celik will offset losses from the drop in Ayes Celik's long position.| Borusan Yatirim vs. Politeknik Metal Sanayi | Borusan Yatirim vs. Gentas Genel Metal | Borusan Yatirim vs. Turkiye Kalkinma Bankasi | Borusan Yatirim vs. MEGA METAL |
| Ayes Celik vs. Gentas Genel Metal | Ayes Celik vs. MEGA METAL | Ayes Celik vs. Sekerbank TAS | Ayes Celik vs. Cuhadaroglu Metal Sanayi |
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.
Other Complementary Tools
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |