Correlation Between Dagi Yatirim and Bms Birlesik
Can any of the company-specific risk be diversified away by investing in both Dagi Yatirim and Bms Birlesik 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 Dagi Yatirim and Bms Birlesik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dagi Yatirim Holding and Bms Birlesik Metal, you can compare the effects of market volatilities on Dagi Yatirim and Bms Birlesik 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 Dagi Yatirim with a short position of Bms Birlesik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dagi Yatirim and Bms Birlesik.
Diversification Opportunities for Dagi Yatirim and Bms Birlesik
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dagi and Bms is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Dagi Yatirim Holding and Bms Birlesik Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bms Birlesik Metal and Dagi Yatirim 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 Dagi Yatirim Holding are associated (or correlated) with Bms Birlesik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bms Birlesik Metal has no effect on the direction of Dagi Yatirim i.e., Dagi Yatirim and Bms Birlesik go up and down completely randomly.
Pair Corralation between Dagi Yatirim and Bms Birlesik
Assuming the 90 days trading horizon Dagi Yatirim Holding is expected to under-perform the Bms Birlesik. But the stock apears to be less risky and, when comparing its historical volatility, Dagi Yatirim Holding is 1.83 times less risky than Bms Birlesik. The stock trades about -0.23 of its potential returns per unit of risk. The Bms Birlesik Metal is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 2,397 in Bms Birlesik Metal on September 2, 2024 and sell it today you would earn a total of 453.00 from holding Bms Birlesik Metal or generate 18.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dagi Yatirim Holding vs. Bms Birlesik Metal
Performance |
| Timeline |
| Dagi Yatirim Holding |
| Bms Birlesik Metal |
Dagi Yatirim and Bms Birlesik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dagi Yatirim and Bms Birlesik
The main advantage of trading using opposite Dagi Yatirim and Bms Birlesik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dagi Yatirim position performs unexpectedly, Bms Birlesik 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 Bms Birlesik will offset losses from the drop in Bms Birlesik's long position.| Dagi Yatirim vs. Bms Birlesik Metal | Dagi Yatirim vs. MEGA METAL | Dagi Yatirim vs. Turkish Airlines | Dagi Yatirim vs. Gentas Genel Metal |
| Bms Birlesik vs. Borlease Otomotiv AS | Bms Birlesik vs. Turkiye Kalkinma Bankasi | Bms Birlesik vs. Gentas Genel Metal | Bms Birlesik vs. Mackolik Internet Hizmetleri |
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.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |