Correlation Between Derimod Konfeksiyon and Anadolu Hayat
Can any of the company-specific risk be diversified away by investing in both Derimod Konfeksiyon and Anadolu Hayat 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 Derimod Konfeksiyon and Anadolu Hayat into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Derimod Konfeksiyon Ayakkabi and Anadolu Hayat Emeklilik, you can compare the effects of market volatilities on Derimod Konfeksiyon and Anadolu Hayat 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 Derimod Konfeksiyon with a short position of Anadolu Hayat. Check out your portfolio center. Please also check ongoing floating volatility patterns of Derimod Konfeksiyon and Anadolu Hayat.
Diversification Opportunities for Derimod Konfeksiyon and Anadolu Hayat
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Derimod and Anadolu is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Derimod Konfeksiyon Ayakkabi and Anadolu Hayat Emeklilik in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anadolu Hayat Emeklilik and Derimod Konfeksiyon 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 Derimod Konfeksiyon Ayakkabi are associated (or correlated) with Anadolu Hayat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anadolu Hayat Emeklilik has no effect on the direction of Derimod Konfeksiyon i.e., Derimod Konfeksiyon and Anadolu Hayat go up and down completely randomly.
Pair Corralation between Derimod Konfeksiyon and Anadolu Hayat
Assuming the 90 days trading horizon Derimod Konfeksiyon Ayakkabi is expected to generate 1.22 times more return on investment than Anadolu Hayat. However, Derimod Konfeksiyon is 1.22 times more volatile than Anadolu Hayat Emeklilik. It trades about 0.24 of its potential returns per unit of risk. Anadolu Hayat Emeklilik is currently generating about 0.02 per unit of risk. If you would invest 3,396 in Derimod Konfeksiyon Ayakkabi on October 24, 2024 and sell it today you would earn a total of 512.00 from holding Derimod Konfeksiyon Ayakkabi or generate 15.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Derimod Konfeksiyon Ayakkabi vs. Anadolu Hayat Emeklilik
Performance |
| Timeline |
| Derimod Konfeksiyon |
| Anadolu Hayat Emeklilik |
Derimod Konfeksiyon and Anadolu Hayat Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Derimod Konfeksiyon and Anadolu Hayat
The main advantage of trading using opposite Derimod Konfeksiyon and Anadolu Hayat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Derimod Konfeksiyon position performs unexpectedly, Anadolu Hayat 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 Anadolu Hayat will offset losses from the drop in Anadolu Hayat's long position.| Derimod Konfeksiyon vs. Trend Gayrimenkul Yatirim | Derimod Konfeksiyon vs. Ege Endustri ve | Derimod Konfeksiyon vs. Anadolu Hayat Emeklilik | Derimod Konfeksiyon vs. Trabzon Liman Isletmeciligi |
| Anadolu Hayat vs. Turkiye Garanti Bankasi | Anadolu Hayat vs. Yapi ve Kredi | Anadolu Hayat vs. Turkiye Is Bankasi | Anadolu Hayat vs. Koc Holding AS |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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