Correlation Between Dogus Gayrimenkul and Akenerji Elektrik
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Akenerji Elektrik 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 Dogus Gayrimenkul and Akenerji Elektrik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dogus Gayrimenkul Yatirim and Akenerji Elektrik Uretim, you can compare the effects of market volatilities on Dogus Gayrimenkul and Akenerji Elektrik 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 Dogus Gayrimenkul with a short position of Akenerji Elektrik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Akenerji Elektrik.
Diversification Opportunities for Dogus Gayrimenkul and Akenerji Elektrik
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dogus and Akenerji is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Akenerji Elektrik Uretim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akenerji Elektrik Uretim and Dogus Gayrimenkul 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 Dogus Gayrimenkul Yatirim are associated (or correlated) with Akenerji Elektrik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akenerji Elektrik Uretim has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Akenerji Elektrik go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Akenerji Elektrik
Assuming the 90 days trading horizon Dogus Gayrimenkul Yatirim is expected to generate 1.03 times more return on investment than Akenerji Elektrik. However, Dogus Gayrimenkul is 1.03 times more volatile than Akenerji Elektrik Uretim. It trades about 0.07 of its potential returns per unit of risk. Akenerji Elektrik Uretim is currently generating about 0.06 per unit of risk. If you would invest 1,630 in Dogus Gayrimenkul Yatirim on August 24, 2024 and sell it today you would earn a total of 2,664 from holding Dogus Gayrimenkul Yatirim or generate 163.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Akenerji Elektrik Uretim
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Akenerji Elektrik Uretim |
Dogus Gayrimenkul and Akenerji Elektrik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Akenerji Elektrik
The main advantage of trading using opposite Dogus Gayrimenkul and Akenerji Elektrik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Akenerji Elektrik 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 Akenerji Elektrik will offset losses from the drop in Akenerji Elektrik's long position.| Dogus Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Dogus Gayrimenkul vs. Koza Anadolu Metal | Dogus Gayrimenkul vs. Bms Birlesik Metal | Dogus Gayrimenkul vs. Akbank TAS |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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