Correlation Between Dogus Gayrimenkul and DO AG
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and DO AG 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 DO AG 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 DO AG, you can compare the effects of market volatilities on Dogus Gayrimenkul and DO AG 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 DO AG. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and DO AG.
Diversification Opportunities for Dogus Gayrimenkul and DO AG
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dogus and DOCO is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and DO AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DO AG 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 DO AG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DO AG has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and DO AG go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and DO AG
Assuming the 90 days trading horizon Dogus Gayrimenkul is expected to generate 1.13 times less return on investment than DO AG. In addition to that, Dogus Gayrimenkul is 1.41 times more volatile than DO AG. It trades about 0.05 of its total potential returns per unit of risk. DO AG is currently generating about 0.08 per unit of volatility. If you would invest 410,750 in DO AG on September 12, 2024 and sell it today you would earn a total of 206,000 from holding DO AG or generate 50.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. DO AG
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| DO AG |
Dogus Gayrimenkul and DO AG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and DO AG
The main advantage of trading using opposite Dogus Gayrimenkul and DO AG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, DO AG 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 DO AG will offset losses from the drop in DO AG's long position.| Dogus Gayrimenkul vs. Turkiye Garanti Bankasi | Dogus Gayrimenkul vs. Turkiye Is Bankasi | Dogus Gayrimenkul vs. Turkiye Is Bankasi | 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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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