Correlation Between Escort Teknoloji and Frigo Pak
Can any of the company-specific risk be diversified away by investing in both Escort Teknoloji and Frigo Pak 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 Escort Teknoloji and Frigo Pak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Escort Teknoloji Yatirim and Frigo Pak Gida Maddeleri, you can compare the effects of market volatilities on Escort Teknoloji and Frigo Pak 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 Escort Teknoloji with a short position of Frigo Pak. Check out your portfolio center. Please also check ongoing floating volatility patterns of Escort Teknoloji and Frigo Pak.
Diversification Opportunities for Escort Teknoloji and Frigo Pak
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Escort and Frigo is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Escort Teknoloji Yatirim and Frigo Pak Gida Maddeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Frigo Pak Gida and Escort Teknoloji 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 Escort Teknoloji Yatirim are associated (or correlated) with Frigo Pak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Frigo Pak Gida has no effect on the direction of Escort Teknoloji i.e., Escort Teknoloji and Frigo Pak go up and down completely randomly.
Pair Corralation between Escort Teknoloji and Frigo Pak
Assuming the 90 days trading horizon Escort Teknoloji Yatirim is expected to generate 1.28 times more return on investment than Frigo Pak. However, Escort Teknoloji is 1.28 times more volatile than Frigo Pak Gida Maddeleri. It trades about 0.07 of its potential returns per unit of risk. Frigo Pak Gida Maddeleri is currently generating about 0.05 per unit of risk. If you would invest 5,260 in Escort Teknoloji Yatirim on October 24, 2024 and sell it today you would earn a total of 170.00 from holding Escort Teknoloji Yatirim or generate 3.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Escort Teknoloji Yatirim vs. Frigo Pak Gida Maddeleri
Performance |
| Timeline |
| Escort Teknoloji Yatirim |
| Frigo Pak Gida |
Escort Teknoloji and Frigo Pak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Escort Teknoloji and Frigo Pak
The main advantage of trading using opposite Escort Teknoloji and Frigo Pak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Escort Teknoloji position performs unexpectedly, Frigo Pak 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 Frigo Pak will offset losses from the drop in Frigo Pak's long position.| Escort Teknoloji vs. Bms Birlesik Metal | Escort Teknoloji vs. Turkish Airlines | Escort Teknoloji vs. KOC METALURJI | Escort Teknoloji vs. Koza Anadolu Metal |
| Frigo Pak vs. Yesil Yatirim Holding | Frigo Pak vs. Trend Gayrimenkul Yatirim | Frigo Pak vs. Escort Teknoloji Yatirim | Frigo Pak vs. Marmaris Altinyunus Turistik |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |