Correlation Between E Data and Senkron Guvenlik
Can any of the company-specific risk be diversified away by investing in both E Data and Senkron Guvenlik 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 Senkron Guvenlik 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 Senkron Guvenlik ve, you can compare the effects of market volatilities on E Data and Senkron Guvenlik 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 Senkron Guvenlik. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Senkron Guvenlik.
Diversification Opportunities for E Data and Senkron Guvenlik
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between EDATA and Senkron is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Senkron Guvenlik ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senkron Guvenlik 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 Senkron Guvenlik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Senkron Guvenlik has no effect on the direction of E Data i.e., E Data and Senkron Guvenlik go up and down completely randomly.
Pair Corralation between E Data and Senkron Guvenlik
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to generate 0.6 times more return on investment than Senkron Guvenlik. However, E Data Teknoloji Pazarlama is 1.67 times less risky than Senkron Guvenlik. It trades about 0.18 of its potential returns per unit of risk. Senkron Guvenlik ve is currently generating about -0.02 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 Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Senkron Guvenlik ve
Performance |
| Timeline |
| E Data Teknoloji |
| Senkron Guvenlik |
E Data and Senkron Guvenlik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with E Data and Senkron Guvenlik
The main advantage of trading using opposite E Data and Senkron Guvenlik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Senkron Guvenlik 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 Senkron Guvenlik will offset losses from the drop in Senkron Guvenlik'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 |
| Senkron Guvenlik vs. Ege Endustri ve | Senkron Guvenlik vs. Turkiye Petrol Rafinerileri | Senkron Guvenlik vs. Turkiye Garanti Bankasi | Senkron Guvenlik vs. Turkish Airlines |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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