Correlation Between Cuhadaroglu Metal and Marka Yatirim
Can any of the company-specific risk be diversified away by investing in both Cuhadaroglu Metal and Marka 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 Cuhadaroglu Metal and Marka Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cuhadaroglu Metal Sanayi and Marka Yatirim Holding, you can compare the effects of market volatilities on Cuhadaroglu Metal and Marka 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 Cuhadaroglu Metal with a short position of Marka Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cuhadaroglu Metal and Marka Yatirim.
Diversification Opportunities for Cuhadaroglu Metal and Marka Yatirim
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cuhadaroglu and Marka is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Cuhadaroglu Metal Sanayi and Marka Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marka Yatirim Holding and Cuhadaroglu Metal 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 Cuhadaroglu Metal Sanayi are associated (or correlated) with Marka Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marka Yatirim Holding has no effect on the direction of Cuhadaroglu Metal i.e., Cuhadaroglu Metal and Marka Yatirim go up and down completely randomly.
Pair Corralation between Cuhadaroglu Metal and Marka Yatirim
Assuming the 90 days trading horizon Cuhadaroglu Metal Sanayi is expected to generate 0.49 times more return on investment than Marka Yatirim. However, Cuhadaroglu Metal Sanayi is 2.06 times less risky than Marka Yatirim. It trades about 0.1 of its potential returns per unit of risk. Marka Yatirim Holding is currently generating about -0.23 per unit of risk. If you would invest 2,012 in Cuhadaroglu Metal Sanayi on September 13, 2024 and sell it today you would earn a total of 68.00 from holding Cuhadaroglu Metal Sanayi or generate 3.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cuhadaroglu Metal Sanayi vs. Marka Yatirim Holding
Performance |
| Timeline |
| Cuhadaroglu Metal Sanayi |
| Marka Yatirim Holding |
Cuhadaroglu Metal and Marka Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cuhadaroglu Metal and Marka Yatirim
The main advantage of trading using opposite Cuhadaroglu Metal and Marka Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cuhadaroglu Metal position performs unexpectedly, Marka 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 Marka Yatirim will offset losses from the drop in Marka Yatirim's long position.| Cuhadaroglu Metal vs. Galatasaray Sportif Sinai | Cuhadaroglu Metal vs. Borlease Otomotiv AS | Cuhadaroglu Metal vs. Politeknik Metal Sanayi | Cuhadaroglu Metal vs. Trabzonspor Sportif Yatirim |
| Marka Yatirim vs. Turkiye Kalkinma Bankasi | Marka Yatirim vs. CEO Event Medya | Marka Yatirim vs. Cuhadaroglu Metal Sanayi | Marka 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |