Correlation Between E Data and Sekerbank TAS
Can any of the company-specific risk be diversified away by investing in both E Data and Sekerbank TAS 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 Sekerbank TAS 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 Sekerbank TAS, you can compare the effects of market volatilities on E Data and Sekerbank TAS 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 Sekerbank TAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Sekerbank TAS.
Diversification Opportunities for E Data and Sekerbank TAS
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between EDATA and Sekerbank is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Sekerbank TAS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sekerbank TAS 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 Sekerbank TAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sekerbank TAS has no effect on the direction of E Data i.e., E Data and Sekerbank TAS go up and down completely randomly.
Pair Corralation between E Data and Sekerbank TAS
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Sekerbank TAS. In addition to that, E Data is 1.31 times more volatile than Sekerbank TAS. It trades about -0.13 of its total potential returns per unit of risk. Sekerbank TAS is currently generating about 0.04 per unit of volatility. If you would invest 375.00 in Sekerbank TAS on August 27, 2024 and sell it today you would earn a total of 52.00 from holding Sekerbank TAS or generate 13.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Sekerbank TAS
Performance |
| Timeline |
| E Data Teknoloji |
| Sekerbank TAS |
E Data and Sekerbank TAS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with E Data and Sekerbank TAS
The main advantage of trading using opposite E Data and Sekerbank TAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Sekerbank TAS 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 Sekerbank TAS will offset losses from the drop in Sekerbank TAS's long position.| E Data vs. Escort Teknoloji Yatirim | E Data vs. Brisa Bridgestone Sabanci | E Data vs. Dogus Gayrimenkul Yatirim | E Data vs. IZDEMIR Enerji Elektrik |
| Sekerbank TAS vs. Turkiye Is Bankasi | Sekerbank TAS vs. Turkiye Is Bankasi | Sekerbank TAS vs. Haci Omer Sabanci | Sekerbank TAS vs. Turkiye Halk Bankasi |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |