Correlation Between E Data and Ozak Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both E Data and Ozak Gayrimenkul 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 Ozak Gayrimenkul 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 Ozak Gayrimenkul Yatirim, you can compare the effects of market volatilities on E Data and Ozak Gayrimenkul 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 Ozak Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Ozak Gayrimenkul.
Diversification Opportunities for E Data and Ozak Gayrimenkul
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between EDATA and Ozak is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Ozak Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ozak Gayrimenkul Yatirim 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 Ozak Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ozak Gayrimenkul Yatirim has no effect on the direction of E Data i.e., E Data and Ozak Gayrimenkul go up and down completely randomly.
Pair Corralation between E Data and Ozak Gayrimenkul
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Ozak Gayrimenkul. In addition to that, E Data is 1.32 times more volatile than Ozak Gayrimenkul Yatirim. It trades about -0.01 of its total potential returns per unit of risk. Ozak Gayrimenkul Yatirim is currently generating about 0.06 per unit of volatility. If you would invest 912.00 in Ozak Gayrimenkul Yatirim on September 14, 2024 and sell it today you would earn a total of 328.00 from holding Ozak Gayrimenkul Yatirim or generate 35.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Ozak Gayrimenkul Yatirim
Performance |
| Timeline |
| E Data Teknoloji |
| Ozak Gayrimenkul Yatirim |
E Data and Ozak Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with E Data and Ozak Gayrimenkul
The main advantage of trading using opposite E Data and Ozak Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Ozak Gayrimenkul 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 Ozak Gayrimenkul will offset losses from the drop in Ozak Gayrimenkul's long position.| E Data vs. Silverline Endustri ve | E Data vs. Sodas Sodyum Sanayi | E Data vs. Akbank TAS | E Data vs. Mackolik Internet Hizmetleri |
| Ozak Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Ozak Gayrimenkul vs. MEGA METAL | Ozak Gayrimenkul vs. Politeknik Metal Sanayi | Ozak Gayrimenkul vs. Trabzonspor Sportif Yatirim |
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 CEOs Directory module to screen CEOs from public companies around the world.
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