Correlation Between Dogus Gayrimenkul and Turkish Airlines
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Turkish Airlines 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 Turkish Airlines 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 Turkish Airlines, you can compare the effects of market volatilities on Dogus Gayrimenkul and Turkish Airlines 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 Turkish Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Turkish Airlines.
Diversification Opportunities for Dogus Gayrimenkul and Turkish Airlines
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dogus and Turkish is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Turkish Airlines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkish Airlines 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 Turkish Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkish Airlines has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Turkish Airlines go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Turkish Airlines
Assuming the 90 days trading horizon Dogus Gayrimenkul Yatirim is expected to generate 1.56 times more return on investment than Turkish Airlines. However, Dogus Gayrimenkul is 1.56 times more volatile than Turkish Airlines. It trades about 0.06 of its potential returns per unit of risk. Turkish Airlines is currently generating about 0.07 per unit of risk. If you would invest 1,719 in Dogus Gayrimenkul Yatirim on August 30, 2024 and sell it today you would earn a total of 2,457 from holding Dogus Gayrimenkul Yatirim or generate 142.93% 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. Turkish Airlines
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Turkish Airlines |
Dogus Gayrimenkul and Turkish Airlines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Turkish Airlines
The main advantage of trading using opposite Dogus Gayrimenkul and Turkish Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Turkish Airlines 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 Turkish Airlines will offset losses from the drop in Turkish Airlines' long position.| Dogus Gayrimenkul vs. Mackolik Internet Hizmetleri | Dogus Gayrimenkul vs. Akcansa Cimento Sanayi | Dogus Gayrimenkul vs. Gentas Genel Metal | Dogus Gayrimenkul vs. MEGA METAL |
| Turkish Airlines vs. Aselsan Elektronik Sanayi | Turkish Airlines vs. Turkiye Petrol Rafinerileri | Turkish Airlines vs. Pegasus Hava Tasimaciligi | Turkish Airlines vs. Turkiye Sise 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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