Correlation Between Creditwest Faktoring and Imas Makina
Can any of the company-specific risk be diversified away by investing in both Creditwest Faktoring and Imas Makina 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 Creditwest Faktoring and Imas Makina into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Creditwest Faktoring AS and Imas Makina Sanayi, you can compare the effects of market volatilities on Creditwest Faktoring and Imas Makina 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 Creditwest Faktoring with a short position of Imas Makina. Check out your portfolio center. Please also check ongoing floating volatility patterns of Creditwest Faktoring and Imas Makina.
Diversification Opportunities for Creditwest Faktoring and Imas Makina
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Creditwest and Imas is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Creditwest Faktoring AS and Imas Makina Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Imas Makina Sanayi and Creditwest Faktoring 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 Creditwest Faktoring AS are associated (or correlated) with Imas Makina. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Imas Makina Sanayi has no effect on the direction of Creditwest Faktoring i.e., Creditwest Faktoring and Imas Makina go up and down completely randomly.
Pair Corralation between Creditwest Faktoring and Imas Makina
Assuming the 90 days trading horizon Creditwest Faktoring AS is expected to generate 1.09 times more return on investment than Imas Makina. However, Creditwest Faktoring is 1.09 times more volatile than Imas Makina Sanayi. It trades about -0.06 of its potential returns per unit of risk. Imas Makina Sanayi is currently generating about -0.12 per unit of risk. If you would invest 728.00 in Creditwest Faktoring AS on December 4, 2024 and sell it today you would lose (39.00) from holding Creditwest Faktoring AS or give up 5.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Creditwest Faktoring AS vs. Imas Makina Sanayi
Performance |
| Timeline |
| Creditwest Faktoring |
| Imas Makina Sanayi |
Creditwest Faktoring and Imas Makina Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Creditwest Faktoring and Imas Makina
The main advantage of trading using opposite Creditwest Faktoring and Imas Makina positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Creditwest Faktoring position performs unexpectedly, Imas Makina 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 Imas Makina will offset losses from the drop in Imas Makina's long position.| Creditwest Faktoring vs. Gentas Genel Metal | Creditwest Faktoring vs. Politeknik Metal Sanayi | Creditwest Faktoring vs. Bms Birlesik Metal | Creditwest Faktoring vs. Borlease Otomotiv AS |
| Imas Makina vs. Bms Birlesik Metal | Imas Makina vs. E Data Teknoloji Pazarlama | Imas Makina vs. MEGA METAL | Imas Makina vs. Koza Anadolu 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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