Correlation Between Creditwest Faktoring and Viking Kagit
Can any of the company-specific risk be diversified away by investing in both Creditwest Faktoring and Viking Kagit 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 Viking Kagit 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 Viking Kagit ve, you can compare the effects of market volatilities on Creditwest Faktoring and Viking Kagit 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 Viking Kagit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Creditwest Faktoring and Viking Kagit.
Diversification Opportunities for Creditwest Faktoring and Viking Kagit
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Creditwest and Viking is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Creditwest Faktoring AS and Viking Kagit ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viking Kagit ve 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 Viking Kagit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viking Kagit ve has no effect on the direction of Creditwest Faktoring i.e., Creditwest Faktoring and Viking Kagit go up and down completely randomly.
Pair Corralation between Creditwest Faktoring and Viking Kagit
Assuming the 90 days trading horizon Creditwest Faktoring AS is expected to generate 0.66 times more return on investment than Viking Kagit. However, Creditwest Faktoring AS is 1.52 times less risky than Viking Kagit. It trades about -0.02 of its potential returns per unit of risk. Viking Kagit ve is currently generating about -0.23 per unit of risk. If you would invest 603.00 in Creditwest Faktoring AS on October 23, 2024 and sell it today you would lose (4.00) from holding Creditwest Faktoring AS or give up 0.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Creditwest Faktoring AS vs. Viking Kagit ve
Performance |
| Timeline |
| Creditwest Faktoring |
| Viking Kagit ve |
Creditwest Faktoring and Viking Kagit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Creditwest Faktoring and Viking Kagit
The main advantage of trading using opposite Creditwest Faktoring and Viking Kagit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Creditwest Faktoring position performs unexpectedly, Viking Kagit 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 Viking Kagit will offset losses from the drop in Viking Kagit's long position.| Creditwest Faktoring vs. Gentas Genel Metal | Creditwest Faktoring vs. Sekerbank TAS | Creditwest Faktoring vs. KOC METALURJI | Creditwest Faktoring vs. ICBC Turkey Bank |
| Viking Kagit vs. Gentas Genel Metal | Viking Kagit vs. Datagate Bilgisayar Malzemeleri | Viking Kagit vs. Politeknik Metal Sanayi | Viking Kagit vs. Creditwest Faktoring AS |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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