Correlation Between Dagi Yatirim and Galatasaray Sportif
Can any of the company-specific risk be diversified away by investing in both Dagi Yatirim and Galatasaray Sportif 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 Galatasaray Sportif 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 Galatasaray Sportif Sinai, you can compare the effects of market volatilities on Dagi Yatirim and Galatasaray Sportif 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 Galatasaray Sportif. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dagi Yatirim and Galatasaray Sportif.
Diversification Opportunities for Dagi Yatirim and Galatasaray Sportif
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dagi and Galatasaray is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Dagi Yatirim Holding and Galatasaray Sportif Sinai in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Galatasaray Sportif Sinai 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 Galatasaray Sportif. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Galatasaray Sportif Sinai has no effect on the direction of Dagi Yatirim i.e., Dagi Yatirim and Galatasaray Sportif go up and down completely randomly.
Pair Corralation between Dagi Yatirim and Galatasaray Sportif
Assuming the 90 days trading horizon Dagi Yatirim Holding is expected to generate 1.17 times more return on investment than Galatasaray Sportif. However, Dagi Yatirim is 1.17 times more volatile than Galatasaray Sportif Sinai. It trades about 0.0 of its potential returns per unit of risk. Galatasaray Sportif Sinai is currently generating about -0.1 per unit of risk. If you would invest 1,684 in Dagi Yatirim Holding on September 13, 2024 and sell it today you would lose (6.00) from holding Dagi Yatirim Holding or give up 0.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Dagi Yatirim Holding vs. Galatasaray Sportif Sinai
Performance |
| Timeline |
| Dagi Yatirim Holding |
| Galatasaray Sportif Sinai |
Dagi Yatirim and Galatasaray Sportif Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dagi Yatirim and Galatasaray Sportif
The main advantage of trading using opposite Dagi Yatirim and Galatasaray Sportif positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dagi Yatirim position performs unexpectedly, Galatasaray Sportif 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 Galatasaray Sportif will offset losses from the drop in Galatasaray Sportif's long position.| Dagi Yatirim vs. Koza Anadolu Metal | Dagi Yatirim vs. Akbank TAS | Dagi Yatirim vs. Bms Birlesik Metal | Dagi Yatirim vs. MEGA METAL |
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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 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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