Correlation Between Dogus Gayrimenkul and Atlas Menkul
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Atlas Menkul 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 Atlas Menkul 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 Atlas Menkul Kiymetler, you can compare the effects of market volatilities on Dogus Gayrimenkul and Atlas Menkul 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 Atlas Menkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Atlas Menkul.
Diversification Opportunities for Dogus Gayrimenkul and Atlas Menkul
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dogus and Atlas is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Atlas Menkul Kiymetler in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlas Menkul Kiymetler 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 Atlas Menkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlas Menkul Kiymetler has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Atlas Menkul go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Atlas Menkul
Assuming the 90 days trading horizon Dogus Gayrimenkul Yatirim is expected to under-perform the Atlas Menkul. But the stock apears to be less risky and, when comparing its historical volatility, Dogus Gayrimenkul Yatirim is 1.85 times less risky than Atlas Menkul. The stock trades about -0.32 of its potential returns per unit of risk. The Atlas Menkul Kiymetler is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest 598.00 in Atlas Menkul Kiymetler on November 28, 2024 and sell it today you would lose (44.00) from holding Atlas Menkul Kiymetler or give up 7.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Atlas Menkul Kiymetler
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Atlas Menkul Kiymetler |
Dogus Gayrimenkul and Atlas Menkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Atlas Menkul
The main advantage of trading using opposite Dogus Gayrimenkul and Atlas Menkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Atlas Menkul 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 Atlas Menkul will offset losses from the drop in Atlas Menkul's long position.| Dogus Gayrimenkul vs. MEGA METAL | Dogus Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Dogus Gayrimenkul vs. Bms Birlesik Metal | Dogus Gayrimenkul vs. Akbank TAS |
| Atlas Menkul vs. Bms Birlesik Metal | Atlas Menkul vs. Turkiye Kalkinma Bankasi | Atlas Menkul vs. E Data Teknoloji Pazarlama | Atlas Menkul vs. Koza Anadolu Metal |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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