Correlation Between Dogus Gayrimenkul and IZDEMIR Enerji
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and IZDEMIR Enerji 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 IZDEMIR Enerji 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 IZDEMIR Enerji Elektrik, you can compare the effects of market volatilities on Dogus Gayrimenkul and IZDEMIR Enerji 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 IZDEMIR Enerji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and IZDEMIR Enerji.
Diversification Opportunities for Dogus Gayrimenkul and IZDEMIR Enerji
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Dogus and IZDEMIR is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and IZDEMIR Enerji Elektrik in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IZDEMIR Enerji Elektrik 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 IZDEMIR Enerji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IZDEMIR Enerji Elektrik has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and IZDEMIR Enerji go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and IZDEMIR Enerji
Assuming the 90 days trading horizon Dogus Gayrimenkul Yatirim is expected to generate 0.91 times more return on investment than IZDEMIR Enerji. However, Dogus Gayrimenkul Yatirim is 1.1 times less risky than IZDEMIR Enerji. It trades about 0.13 of its potential returns per unit of risk. IZDEMIR Enerji Elektrik is currently generating about 0.06 per unit of risk. If you would invest 3,680 in Dogus Gayrimenkul Yatirim on August 28, 2024 and sell it today you would earn a total of 566.00 from holding Dogus Gayrimenkul Yatirim or generate 15.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. IZDEMIR Enerji Elektrik
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| IZDEMIR Enerji Elektrik |
Dogus Gayrimenkul and IZDEMIR Enerji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and IZDEMIR Enerji
The main advantage of trading using opposite Dogus Gayrimenkul and IZDEMIR Enerji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, IZDEMIR Enerji 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 IZDEMIR Enerji will offset losses from the drop in IZDEMIR Enerji's long position.| Dogus Gayrimenkul vs. Brisa Bridgestone Sabanci | Dogus Gayrimenkul vs. IZDEMIR Enerji Elektrik | Dogus Gayrimenkul vs. Margun Enerji Uretim | Dogus Gayrimenkul vs. Kent Gida Maddeleri |
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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