Correlation Between CEO Event and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both CEO Event and Guler Yatirim 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 CEO Event and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CEO Event Medya and Guler Yatirim Holding, you can compare the effects of market volatilities on CEO Event and Guler Yatirim 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 CEO Event with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of CEO Event and Guler Yatirim.
Diversification Opportunities for CEO Event and Guler Yatirim
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CEO and Guler is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding CEO Event Medya and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding and CEO Event 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 CEO Event Medya are associated (or correlated) with Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of CEO Event i.e., CEO Event and Guler Yatirim go up and down completely randomly.
Pair Corralation between CEO Event and Guler Yatirim
Assuming the 90 days trading horizon CEO Event Medya is expected to generate 1.26 times more return on investment than Guler Yatirim. However, CEO Event is 1.26 times more volatile than Guler Yatirim Holding. It trades about 0.05 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.02 per unit of risk. If you would invest 1,708 in CEO Event Medya on September 14, 2024 and sell it today you would earn a total of 1,190 from holding CEO Event Medya or generate 69.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CEO Event Medya vs. Guler Yatirim Holding
Performance |
| Timeline |
| CEO Event Medya |
| Guler Yatirim Holding |
CEO Event and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CEO Event and Guler Yatirim
The main advantage of trading using opposite CEO Event and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CEO Event position performs unexpectedly, Guler Yatirim 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| CEO Event vs. Prizma Pres Matbaacilik | CEO Event vs. Dogus Gayrimenkul Yatirim | CEO Event vs. IZDEMIR Enerji Elektrik | CEO Event vs. Logo Yazilim Sanayi |
| Guler Yatirim vs. CEO Event Medya | Guler Yatirim vs. Cuhadaroglu Metal Sanayi | Guler Yatirim vs. Turkiye Kalkinma Bankasi | Guler Yatirim vs. Gentas Genel 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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