Correlation Between Dogus Gayrimenkul and Albaraka Turk
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Albaraka Turk 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 Albaraka Turk 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 Albaraka Turk Katilim, you can compare the effects of market volatilities on Dogus Gayrimenkul and Albaraka Turk 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 Albaraka Turk. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Albaraka Turk.
Diversification Opportunities for Dogus Gayrimenkul and Albaraka Turk
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Dogus and Albaraka is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Albaraka Turk Katilim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Albaraka Turk Katilim 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 Albaraka Turk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Albaraka Turk Katilim has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Albaraka Turk go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Albaraka Turk
Assuming the 90 days trading horizon Dogus Gayrimenkul is expected to generate 1.13 times less return on investment than Albaraka Turk. In addition to that, Dogus Gayrimenkul is 1.39 times more volatile than Albaraka Turk Katilim. It trades about 0.05 of its total potential returns per unit of risk. Albaraka Turk Katilim is currently generating about 0.08 per unit of volatility. If you would invest 406.00 in Albaraka Turk Katilim on September 14, 2024 and sell it today you would earn a total of 214.00 from holding Albaraka Turk Katilim or generate 52.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Albaraka Turk Katilim
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Albaraka Turk Katilim |
Dogus Gayrimenkul and Albaraka Turk Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Albaraka Turk
The main advantage of trading using opposite Dogus Gayrimenkul and Albaraka Turk positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Albaraka Turk 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 Albaraka Turk will offset losses from the drop in Albaraka Turk's long position.| Dogus Gayrimenkul vs. Sekerbank TAS | Dogus Gayrimenkul vs. Galatasaray Sportif Sinai | Dogus Gayrimenkul vs. MEGA METAL | Dogus Gayrimenkul vs. Politeknik Metal Sanayi |
| Albaraka Turk vs. Pamel Yenilenebilir Elektrik | Albaraka Turk vs. Bosch Fren Sistemleri | Albaraka Turk vs. Marka Yatirim Holding | Albaraka Turk vs. Dogus Gayrimenkul Yatirim |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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