Correlation Between Datagate Bilgisayar and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Datagate Bilgisayar and Guler Yatirim 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 Datagate Bilgisayar and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Datagate Bilgisayar Malzemeleri and Guler Yatirim Holding, you can compare the effects of market volatilities on Datagate Bilgisayar and Guler Yatirim 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 Datagate Bilgisayar with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Datagate Bilgisayar and Guler Yatirim.
Diversification Opportunities for Datagate Bilgisayar and Guler Yatirim
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Datagate and Guler is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Datagate Bilgisayar Malzemeler and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding and Datagate Bilgisayar 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 Datagate Bilgisayar Malzemeleri are associated (or correlated) with Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of Datagate Bilgisayar i.e., Datagate Bilgisayar and Guler Yatirim go up and down completely randomly.
Pair Corralation between Datagate Bilgisayar and Guler Yatirim
Assuming the 90 days trading horizon Datagate Bilgisayar Malzemeleri is expected to generate 1.18 times more return on investment than Guler Yatirim. However, Datagate Bilgisayar is 1.18 times more volatile than Guler Yatirim Holding. It trades about 0.02 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.02 per unit of risk. If you would invest 4,038 in Datagate Bilgisayar Malzemeleri on September 2, 2024 and sell it today you would earn a total of 114.00 from holding Datagate Bilgisayar Malzemeleri or generate 2.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Datagate Bilgisayar Malzemeler vs. Guler Yatirim Holding
Performance |
| Timeline |
| Datagate Bilgisayar |
| Guler Yatirim Holding |
Datagate Bilgisayar and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Datagate Bilgisayar and Guler Yatirim
The main advantage of trading using opposite Datagate Bilgisayar and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Datagate Bilgisayar position performs unexpectedly, Guler Yatirim 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| Datagate Bilgisayar vs. MEGA METAL | Datagate Bilgisayar vs. Gentas Genel Metal | Datagate Bilgisayar vs. Akbank TAS | Datagate Bilgisayar vs. Bms Birlesik Metal |
| Guler Yatirim vs. Koza Anadolu Metal | Guler Yatirim vs. Silverline Endustri ve | Guler Yatirim vs. Bms Birlesik Metal | Guler Yatirim vs. Datagate Bilgisayar Malzemeleri |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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