Correlation Between CEO Event and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both CEO Event and Turkiye Is 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 Turkiye Is 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 Turkiye Is Bankasi, you can compare the effects of market volatilities on CEO Event and Turkiye Is 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 Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of CEO Event and Turkiye Is.
Diversification Opportunities for CEO Event and Turkiye Is
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between CEO and Turkiye is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding CEO Event Medya and Turkiye Is Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Is Bankasi 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 Turkiye Is. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Is Bankasi has no effect on the direction of CEO Event i.e., CEO Event and Turkiye Is go up and down completely randomly.
Pair Corralation between CEO Event and Turkiye Is
Assuming the 90 days trading horizon CEO Event Medya is expected to under-perform the Turkiye Is. In addition to that, CEO Event is 1.61 times more volatile than Turkiye Is Bankasi. It trades about -0.21 of its total potential returns per unit of risk. Turkiye Is Bankasi is currently generating about -0.06 per unit of volatility. If you would invest 59,099,800 in Turkiye Is Bankasi on August 30, 2024 and sell it today you would lose (6,306,000) from holding Turkiye Is Bankasi or give up 10.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CEO Event Medya vs. Turkiye Is Bankasi
Performance |
| Timeline |
| CEO Event Medya |
| Turkiye Is Bankasi |
CEO Event and Turkiye Is Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CEO Event and Turkiye Is
The main advantage of trading using opposite CEO Event and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CEO Event position performs unexpectedly, Turkiye Is 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 Turkiye Is will offset losses from the drop in Turkiye Is' long position.| CEO Event vs. MEGA METAL | CEO Event vs. Gentas Genel Metal | CEO Event vs. Politeknik Metal Sanayi | CEO Event vs. Cuhadaroglu Metal Sanayi |
| Turkiye Is vs. Turkiye Halk Bankasi | Turkiye Is vs. Turkiye Vakiflar Bankasi | Turkiye Is vs. Turkiye Garanti Bankasi | Turkiye Is vs. Yapi ve Kredi |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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