Correlation Between Dogus Gayrimenkul and Platform Turizm
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Platform Turizm 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 Platform Turizm 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 Platform Turizm Tasimacilik, you can compare the effects of market volatilities on Dogus Gayrimenkul and Platform Turizm 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 Platform Turizm. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Platform Turizm.
Diversification Opportunities for Dogus Gayrimenkul and Platform Turizm
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Dogus and Platform is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Platform Turizm Tasimacilik in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Platform Turizm Tasi 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 Platform Turizm. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Platform Turizm Tasi has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Platform Turizm go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Platform Turizm
Assuming the 90 days trading horizon Dogus Gayrimenkul is expected to generate 1.5 times less return on investment than Platform Turizm. But when comparing it to its historical volatility, Dogus Gayrimenkul Yatirim is 1.13 times less risky than Platform Turizm. It trades about 0.06 of its potential returns per unit of risk. Platform Turizm Tasimacilik is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,707 in Platform Turizm Tasimacilik on August 28, 2024 and sell it today you would earn a total of 881.00 from holding Platform Turizm Tasimacilik or generate 51.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Platform Turizm Tasimacilik
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Platform Turizm Tasi |
Dogus Gayrimenkul and Platform Turizm Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Platform Turizm
The main advantage of trading using opposite Dogus Gayrimenkul and Platform Turizm positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Platform Turizm 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 Platform Turizm will offset losses from the drop in Platform Turizm'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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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