Correlation Between Dogus Gayrimenkul and Kent Gida
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Kent Gida 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 Kent Gida 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 Kent Gida Maddeleri, you can compare the effects of market volatilities on Dogus Gayrimenkul and Kent Gida 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 Kent Gida. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Kent Gida.
Diversification Opportunities for Dogus Gayrimenkul and Kent Gida
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dogus and Kent is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Kent Gida Maddeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kent Gida Maddeleri 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 Kent Gida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kent Gida Maddeleri has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Kent Gida go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Kent Gida
Assuming the 90 days trading horizon Dogus Gayrimenkul is expected to generate 1.47 times less return on investment than Kent Gida. But when comparing it to its historical volatility, Dogus Gayrimenkul Yatirim is 1.16 times less risky than Kent Gida. It trades about 0.06 of its potential returns per unit of risk. Kent Gida Maddeleri is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 23,500 in Kent Gida Maddeleri on August 28, 2024 and sell it today you would earn a total of 64,400 from holding Kent Gida Maddeleri or generate 274.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Kent Gida Maddeleri
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Kent Gida Maddeleri |
Dogus Gayrimenkul and Kent Gida Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Kent Gida
The main advantage of trading using opposite Dogus Gayrimenkul and Kent Gida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Kent Gida 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 Kent Gida will offset losses from the drop in Kent Gida'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 |
| Kent Gida vs. Gentas Genel Metal | Kent Gida vs. Politeknik Metal Sanayi | Kent Gida vs. Akbank TAS | Kent Gida vs. Cuhadaroglu Metal Sanayi |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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