Correlation Between E Data and Frigo Pak
Can any of the company-specific risk be diversified away by investing in both E Data and Frigo Pak 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 E Data and Frigo Pak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between E Data Teknoloji Pazarlama and Frigo Pak Gida Maddeleri, you can compare the effects of market volatilities on E Data and Frigo Pak 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 E Data with a short position of Frigo Pak. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Frigo Pak.
Diversification Opportunities for E Data and Frigo Pak
Pay attention - limited upside
The 3 months correlation between EDATA and Frigo is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Frigo Pak Gida Maddeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Frigo Pak Gida and E Data 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 E Data Teknoloji Pazarlama are associated (or correlated) with Frigo Pak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Frigo Pak Gida has no effect on the direction of E Data i.e., E Data and Frigo Pak go up and down completely randomly.
Pair Corralation between E Data and Frigo Pak
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to generate 1.14 times more return on investment than Frigo Pak. However, E Data is 1.14 times more volatile than Frigo Pak Gida Maddeleri. It trades about 0.18 of its potential returns per unit of risk. Frigo Pak Gida Maddeleri is currently generating about -0.06 per unit of risk. If you would invest 1,386 in E Data Teknoloji Pazarlama on September 12, 2024 and sell it today you would earn a total of 113.00 from holding E Data Teknoloji Pazarlama or generate 8.15% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Frigo Pak Gida Maddeleri
Performance |
Timeline |
E Data Teknoloji |
Frigo Pak Gida |
E Data and Frigo Pak Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with E Data and Frigo Pak
The main advantage of trading using opposite E Data and Frigo Pak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Frigo Pak 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 Frigo Pak will offset losses from the drop in Frigo Pak's long position.E Data vs. Sodas Sodyum Sanayi | E Data vs. Akcansa Cimento Sanayi | E Data vs. Bms Birlesik Metal | E Data vs. Sekerbank TAS |
Frigo Pak vs. Gentas Genel Metal | Frigo Pak vs. Akcansa Cimento Sanayi | Frigo Pak vs. Sekerbank TAS | Frigo Pak vs. E Data Teknoloji Pazarlama |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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