Correlation Between Dogus Gayrimenkul and Is Finansal
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Is Finansal 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 Is Finansal 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 Is Finansal Kiralama, you can compare the effects of market volatilities on Dogus Gayrimenkul and Is Finansal 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 Is Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Is Finansal.
Diversification Opportunities for Dogus Gayrimenkul and Is Finansal
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dogus and ISFIN is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Is Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Is Finansal Kiralama 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 Is Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Is Finansal Kiralama has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Is Finansal go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Is Finansal
Assuming the 90 days trading horizon Dogus Gayrimenkul Yatirim is expected to generate 1.33 times more return on investment than Is Finansal. However, Dogus Gayrimenkul is 1.33 times more volatile than Is Finansal Kiralama. It trades about 0.06 of its potential returns per unit of risk. Is Finansal Kiralama is currently generating about 0.04 per unit of risk. If you would invest 1,897 in Dogus Gayrimenkul Yatirim on September 13, 2024 and sell it today you would earn a total of 2,517 from holding Dogus Gayrimenkul Yatirim or generate 132.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Is Finansal Kiralama
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Is Finansal Kiralama |
Dogus Gayrimenkul and Is Finansal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Is Finansal
The main advantage of trading using opposite Dogus Gayrimenkul and Is Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Is Finansal 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 Is Finansal will offset losses from the drop in Is Finansal's long position.| Dogus Gayrimenkul vs. Galatasaray Sportif Sinai | Dogus Gayrimenkul vs. Qnb Finansbank AS | Dogus Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Dogus Gayrimenkul vs. Sekerbank 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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