Correlation Between Dogus Gayrimenkul and Pegasus Hava
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Pegasus Hava 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 Pegasus Hava 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 Pegasus Hava Tasimaciligi, you can compare the effects of market volatilities on Dogus Gayrimenkul and Pegasus Hava 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 Pegasus Hava. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Pegasus Hava.
Diversification Opportunities for Dogus Gayrimenkul and Pegasus Hava
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dogus and Pegasus is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Pegasus Hava Tasimaciligi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pegasus Hava Tasimaciligi 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 Pegasus Hava. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pegasus Hava Tasimaciligi has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Pegasus Hava go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Pegasus Hava
Assuming the 90 days trading horizon Dogus Gayrimenkul is expected to generate 1.15 times less return on investment than Pegasus Hava. In addition to that, Dogus Gayrimenkul is 1.51 times more volatile than Pegasus Hava Tasimaciligi. It trades about 0.05 of its total potential returns per unit of risk. Pegasus Hava Tasimaciligi is currently generating about 0.09 per unit of volatility. If you would invest 11,077 in Pegasus Hava Tasimaciligi on August 31, 2024 and sell it today you would earn a total of 10,783 from holding Pegasus Hava Tasimaciligi or generate 97.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.73% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Pegasus Hava Tasimaciligi
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Pegasus Hava Tasimaciligi |
Dogus Gayrimenkul and Pegasus Hava Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Pegasus Hava
The main advantage of trading using opposite Dogus Gayrimenkul and Pegasus Hava positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Pegasus Hava 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 Pegasus Hava will offset losses from the drop in Pegasus Hava's long position.| Dogus Gayrimenkul vs. MEGA METAL | Dogus Gayrimenkul vs. Gentas Genel Metal | Dogus Gayrimenkul vs. Politeknik Metal Sanayi | Dogus Gayrimenkul vs. Bms Birlesik Metal |
| Pegasus Hava vs. Aselsan Elektronik Sanayi | Pegasus Hava vs. Turkiye Petrol Rafinerileri | Pegasus Hava vs. Turkiye Sise ve | Pegasus Hava vs. Eregli Demir ve |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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