Correlation Between E Data and Gentas Genel
Can any of the company-specific risk be diversified away by investing in both E Data and Gentas Genel 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 Gentas Genel 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 Gentas Genel Metal, you can compare the effects of market volatilities on E Data and Gentas Genel 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 Gentas Genel. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Gentas Genel.
Diversification Opportunities for E Data and Gentas Genel
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between EDATA and Gentas is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Gentas Genel Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentas Genel Metal 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 Gentas Genel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentas Genel Metal has no effect on the direction of E Data i.e., E Data and Gentas Genel go up and down completely randomly.
Pair Corralation between E Data and Gentas Genel
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Gentas Genel. But the stock apears to be less risky and, when comparing its historical volatility, E Data Teknoloji Pazarlama is 1.07 times less risky than Gentas Genel. The stock trades about -0.17 of its potential returns per unit of risk. The Gentas Genel Metal is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 769.00 in Gentas Genel Metal on August 30, 2024 and sell it today you would earn a total of 71.00 from holding Gentas Genel Metal or generate 9.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Gentas Genel Metal
Performance |
| Timeline |
| E Data Teknoloji |
| Gentas Genel Metal |
E Data and Gentas Genel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with E Data and Gentas Genel
The main advantage of trading using opposite E Data and Gentas Genel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Gentas Genel 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 Gentas Genel will offset losses from the drop in Gentas Genel's long position.| E Data vs. Silverline Endustri ve | E Data vs. MEGA METAL | E Data vs. Akbank TAS | E Data vs. Mackolik Internet Hizmetleri |
| Gentas Genel vs. Haci Omer Sabanci | Gentas Genel vs. Turkiye Petrol Rafinerileri | Gentas Genel vs. Turkiye Garanti Bankasi | Gentas Genel vs. Akbank TAS |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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