Correlation Between Creditwest Faktoring and Mackolik Internet
Can any of the company-specific risk be diversified away by investing in both Creditwest Faktoring 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 Creditwest Faktoring and Mackolik Internet 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 Mackolik Internet Hizmetleri, you can compare the effects of market volatilities on Creditwest Faktoring 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 Creditwest Faktoring with a short position of Mackolik Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Creditwest Faktoring and Mackolik Internet.
Diversification Opportunities for Creditwest Faktoring and Mackolik Internet
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Creditwest and Mackolik is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Creditwest Faktoring AS and Mackolik Internet Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mackolik Internet 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 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 Creditwest Faktoring i.e., Creditwest Faktoring and Mackolik Internet go up and down completely randomly.
Pair Corralation between Creditwest Faktoring and Mackolik Internet
Assuming the 90 days trading horizon Creditwest Faktoring AS is expected to under-perform the Mackolik Internet. But the stock apears to be less risky and, when comparing its historical volatility, Creditwest Faktoring AS is 1.55 times less risky than Mackolik Internet. The stock trades about -0.07 of its potential returns per unit of risk. The Mackolik Internet Hizmetleri is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 10,700 in Mackolik Internet Hizmetleri on October 20, 2024 and sell it today you would lose (210.00) from holding Mackolik Internet Hizmetleri or give up 1.96% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Creditwest Faktoring AS vs. Mackolik Internet Hizmetleri
Performance |
Timeline |
Creditwest Faktoring |
Mackolik Internet |
Creditwest Faktoring and Mackolik Internet Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Creditwest Faktoring and Mackolik Internet
The main advantage of trading using opposite Creditwest Faktoring and Mackolik Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Creditwest Faktoring 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.Creditwest Faktoring vs. Turkiye Kalkinma Bankasi | Creditwest Faktoring vs. Borlease Otomotiv AS | Creditwest Faktoring vs. Gentas Genel Metal | Creditwest Faktoring vs. Trabzonspor Sportif Yatirim |
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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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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