Correlation Between Derluks Yatirim and Dagi Giyim
Can any of the company-specific risk be diversified away by investing in both Derluks Yatirim and Dagi Giyim 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 Derluks Yatirim and Dagi Giyim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Derluks Yatirim Holding and Dagi Giyim Sanayi, you can compare the effects of market volatilities on Derluks Yatirim and Dagi Giyim 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 Derluks Yatirim with a short position of Dagi Giyim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Derluks Yatirim and Dagi Giyim.
Diversification Opportunities for Derluks Yatirim and Dagi Giyim
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Derluks and Dagi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Derluks Yatirim Holding and Dagi Giyim Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dagi Giyim Sanayi and Derluks 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 Derluks Yatirim Holding are associated (or correlated) with Dagi Giyim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dagi Giyim Sanayi has no effect on the direction of Derluks Yatirim i.e., Derluks Yatirim and Dagi Giyim go up and down completely randomly.
Pair Corralation between Derluks Yatirim and Dagi Giyim
If you would invest 1,187 in Dagi Giyim Sanayi on September 4, 2024 and sell it today you would earn a total of 168.00 from holding Dagi Giyim Sanayi or generate 14.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Derluks Yatirim Holding vs. Dagi Giyim Sanayi
Performance |
| Timeline |
| Derluks Yatirim Holding |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Dagi Giyim Sanayi |
Derluks Yatirim and Dagi Giyim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Derluks Yatirim and Dagi Giyim
The main advantage of trading using opposite Derluks Yatirim and Dagi Giyim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Derluks Yatirim position performs unexpectedly, Dagi Giyim 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 Dagi Giyim will offset losses from the drop in Dagi Giyim's long position.| Derluks Yatirim vs. Koza Anadolu Metal | Derluks Yatirim vs. Akbank TAS | Derluks Yatirim vs. Creditwest Faktoring AS | Derluks Yatirim vs. Turkiye Kalkinma Bankasi |
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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