Correlation Between Dagi Giyim and CEO Event
Can any of the company-specific risk be diversified away by investing in both Dagi Giyim and CEO Event 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 Giyim and CEO Event into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dagi Giyim Sanayi and CEO Event Medya, you can compare the effects of market volatilities on Dagi Giyim and CEO Event 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 Giyim with a short position of CEO Event. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dagi Giyim and CEO Event.
Diversification Opportunities for Dagi Giyim and CEO Event
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Dagi and CEO is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Dagi Giyim Sanayi and CEO Event Medya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CEO Event Medya and Dagi Giyim 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 Giyim Sanayi are associated (or correlated) with CEO Event. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CEO Event Medya has no effect on the direction of Dagi Giyim i.e., Dagi Giyim and CEO Event go up and down completely randomly.
Pair Corralation between Dagi Giyim and CEO Event
Assuming the 90 days trading horizon Dagi Giyim Sanayi is expected to generate 4.24 times more return on investment than CEO Event. However, Dagi Giyim is 4.24 times more volatile than CEO Event Medya. It trades about -0.05 of its potential returns per unit of risk. CEO Event Medya is currently generating about -0.34 per unit of risk. If you would invest 1,669 in Dagi Giyim Sanayi on October 28, 2024 and sell it today you would lose (124.00) from holding Dagi Giyim Sanayi or give up 7.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dagi Giyim Sanayi vs. CEO Event Medya
Performance |
| Timeline |
| Dagi Giyim Sanayi |
| CEO Event Medya |
Dagi Giyim and CEO Event Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dagi Giyim and CEO Event
The main advantage of trading using opposite Dagi Giyim and CEO Event positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dagi Giyim position performs unexpectedly, CEO Event 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 CEO Event will offset losses from the drop in CEO Event's long position.| Dagi Giyim vs. Borlease Otomotiv AS | Dagi Giyim vs. Koza Anadolu Metal | Dagi Giyim vs. Mackolik Internet Hizmetleri | Dagi Giyim vs. Gentas Genel Metal |
| CEO Event vs. Prizma Pres Matbaacilik | CEO Event vs. Turkiye Sigorta AS | CEO Event vs. Brisa Bridgestone Sabanci | CEO Event vs. RONESANS GAYRIMENKUL YAT |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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