Correlation Between Dow Jones and Tukas Gida
Can any of the company-specific risk be diversified away by investing in both Dow Jones and Tukas 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 Dow Jones and Tukas Gida into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Dow Jones Industrial and Tukas Gida Sanayi, you can compare the effects of market volatilities on Dow Jones and Tukas 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 Dow Jones with a short position of Tukas Gida. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dow Jones and Tukas Gida.
Diversification Opportunities for Dow Jones and Tukas Gida
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Dow and Tukas is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Dow Jones Industrial and Tukas Gida Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tukas Gida Sanayi and Dow Jones 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 Dow Jones Industrial are associated (or correlated) with Tukas Gida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tukas Gida Sanayi has no effect on the direction of Dow Jones i.e., Dow Jones and Tukas Gida go up and down completely randomly.
Pair Corralation between Dow Jones and Tukas Gida
Assuming the 90 days trading horizon Dow Jones Industrial is expected to generate 0.49 times more return on investment than Tukas Gida. However, Dow Jones Industrial is 2.02 times less risky than Tukas Gida. It trades about 0.0 of its potential returns per unit of risk. Tukas Gida Sanayi is currently generating about -0.02 per unit of risk. If you would invest 4,089,653 in Dow Jones Industrial on January 15, 2025 and sell it today you would lose (37,174) from holding Dow Jones Industrial or give up 0.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.4% |
| Values | Daily Returns |
Dow Jones Industrial vs. Tukas Gida Sanayi
Performance |
| Timeline |
Dow Jones and Tukas Gida Volatility Contrast
Predicted Return Density |
| Returns |
Dow Jones Industrial
Pair trading matchups for Dow Jones
Tukas Gida Sanayi
Pair trading matchups for Tukas Gida
Pair Trading with Dow Jones and Tukas Gida
The main advantage of trading using opposite Dow Jones and Tukas Gida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dow Jones position performs unexpectedly, Tukas 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 Tukas Gida will offset losses from the drop in Tukas Gida's long position.| Dow Jones vs. Flanigans Enterprises | Dow Jones vs. McDonalds | Dow Jones vs. Zoom Video Communications | Dow Jones vs. Nike Inc |
| Tukas Gida vs. Desa Deri Sanayi | Tukas Gida vs. Tumosan Motor ve | Tukas Gida vs. Ihlas Gazetecilik AS | Tukas Gida vs. Beyaz Filo Oto |
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 Stocks Directory module to find actively traded stocks across global markets.
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