Correlation Between Dogus Gayrimenkul and Yunsa Yunlu
Can any of the company-specific risk be diversified away by investing in both Dogus Gayrimenkul and Yunsa Yunlu 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 Yunsa Yunlu 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 Yunsa Yunlu Sanayi, you can compare the effects of market volatilities on Dogus Gayrimenkul and Yunsa Yunlu 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 Yunsa Yunlu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dogus Gayrimenkul and Yunsa Yunlu.
Diversification Opportunities for Dogus Gayrimenkul and Yunsa Yunlu
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dogus and Yunsa is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Dogus Gayrimenkul Yatirim and Yunsa Yunlu Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yunsa Yunlu Sanayi 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 Yunsa Yunlu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yunsa Yunlu Sanayi has no effect on the direction of Dogus Gayrimenkul i.e., Dogus Gayrimenkul and Yunsa Yunlu go up and down completely randomly.
Pair Corralation between Dogus Gayrimenkul and Yunsa Yunlu
Assuming the 90 days trading horizon Dogus Gayrimenkul Yatirim is expected to generate 1.4 times more return on investment than Yunsa Yunlu. However, Dogus Gayrimenkul is 1.4 times more volatile than Yunsa Yunlu Sanayi. It trades about 0.07 of its potential returns per unit of risk. Yunsa Yunlu Sanayi is currently generating about -0.15 per unit of risk. If you would invest 3,060 in Dogus Gayrimenkul Yatirim on November 28, 2024 and sell it today you would earn a total of 676.00 from holding Dogus Gayrimenkul Yatirim or generate 22.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dogus Gayrimenkul Yatirim vs. Yunsa Yunlu Sanayi
Performance |
| Timeline |
| Dogus Gayrimenkul Yatirim |
| Yunsa Yunlu Sanayi |
Dogus Gayrimenkul and Yunsa Yunlu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dogus Gayrimenkul and Yunsa Yunlu
The main advantage of trading using opposite Dogus Gayrimenkul and Yunsa Yunlu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dogus Gayrimenkul position performs unexpectedly, Yunsa Yunlu 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 Yunsa Yunlu will offset losses from the drop in Yunsa Yunlu's long position.| Dogus Gayrimenkul vs. MEGA METAL | Dogus Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Dogus Gayrimenkul vs. Bms Birlesik Metal | Dogus Gayrimenkul vs. Akbank TAS |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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