Correlation Between Dagi Yatirim and Mackolik Internet
Can any of the company-specific risk be diversified away by investing in both Dagi Yatirim 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 Dagi Yatirim and Mackolik Internet 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 Mackolik Internet Hizmetleri, you can compare the effects of market volatilities on Dagi Yatirim 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 Dagi Yatirim with a short position of Mackolik Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dagi Yatirim and Mackolik Internet.
Diversification Opportunities for Dagi Yatirim and Mackolik Internet
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dagi and Mackolik is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Dagi Yatirim Holding and Mackolik Internet Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mackolik Internet 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 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 Dagi Yatirim i.e., Dagi Yatirim and Mackolik Internet go up and down completely randomly.
Pair Corralation between Dagi Yatirim and Mackolik Internet
Assuming the 90 days trading horizon Dagi Yatirim Holding is expected to under-perform the Mackolik Internet. But the stock apears to be less risky and, when comparing its historical volatility, Dagi Yatirim Holding is 1.35 times less risky than Mackolik Internet. The stock trades about -0.13 of its potential returns per unit of risk. The Mackolik Internet Hizmetleri is currently generating about 0.77 of returns per unit of risk over similar time horizon. If you would invest 7,430 in Mackolik Internet Hizmetleri on September 4, 2024 and sell it today you would earn a total of 3,020 from holding Mackolik Internet Hizmetleri or generate 40.65% 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. Mackolik Internet Hizmetleri
Performance |
| Timeline |
| Dagi Yatirim Holding |
| Mackolik Internet |
Dagi Yatirim and Mackolik Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dagi Yatirim and Mackolik Internet
The main advantage of trading using opposite Dagi Yatirim and Mackolik Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dagi Yatirim 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.| Dagi Yatirim vs. Mackolik Internet Hizmetleri | Dagi Yatirim vs. Akcansa Cimento Sanayi | Dagi Yatirim vs. Gentas Genel Metal | Dagi Yatirim vs. Bms Birlesik Metal |
| Mackolik Internet vs. Pamel Yenilenebilir Elektrik | Mackolik Internet vs. Brisa Bridgestone Sabanci | Mackolik Internet vs. Dogus Gayrimenkul Yatirim | Mackolik Internet vs. IZDEMIR Enerji Elektrik |
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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