Correlation Between Ege Gubre and Is Yatirim
Can any of the company-specific risk be diversified away by investing in both Ege Gubre and Is Yatirim 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 Ege Gubre and Is Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ege Gubre Sanayi and Is Yatirim Ortakligi, you can compare the effects of market volatilities on Ege Gubre and Is Yatirim 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 Ege Gubre with a short position of Is Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ege Gubre and Is Yatirim.
Diversification Opportunities for Ege Gubre and Is Yatirim
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ege and ISYAT is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Ege Gubre Sanayi and Is Yatirim Ortakligi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Is Yatirim Ortakligi and Ege Gubre 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 Ege Gubre Sanayi are associated (or correlated) with Is Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Is Yatirim Ortakligi has no effect on the direction of Ege Gubre i.e., Ege Gubre and Is Yatirim go up and down completely randomly.
Pair Corralation between Ege Gubre and Is Yatirim
Assuming the 90 days trading horizon Ege Gubre is expected to generate 13.93 times less return on investment than Is Yatirim. But when comparing it to its historical volatility, Ege Gubre Sanayi is 1.31 times less risky than Is Yatirim. It trades about 0.01 of its potential returns per unit of risk. Is Yatirim Ortakligi is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 803.00 in Is Yatirim Ortakligi on August 30, 2024 and sell it today you would earn a total of 50.00 from holding Is Yatirim Ortakligi or generate 6.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Ege Gubre Sanayi vs. Is Yatirim Ortakligi
Performance |
| Timeline |
| Ege Gubre Sanayi |
| Is Yatirim Ortakligi |
Ege Gubre and Is Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ege Gubre and Is Yatirim
The main advantage of trading using opposite Ege Gubre and Is Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ege Gubre position performs unexpectedly, Is Yatirim 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 Is Yatirim will offset losses from the drop in Is Yatirim's long position.| Ege Gubre vs. Creditwest Faktoring AS | Ege Gubre vs. Politeknik Metal Sanayi | Ege Gubre vs. Akcansa Cimento Sanayi | Ege Gubre vs. MEGA METAL |
| Is Yatirim vs. Turkish Airlines | Is Yatirim vs. Qnb Finansbank AS | Is Yatirim vs. Cuhadaroglu Metal Sanayi | Is Yatirim vs. ICBC Turkey Bank |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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