Correlation Between Gentas Genel and Birikim Varlik
Can any of the company-specific risk be diversified away by investing in both Gentas Genel and Birikim Varlik 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 Gentas Genel and Birikim Varlik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gentas Genel Metal and Birikim Varlik Yonetim, you can compare the effects of market volatilities on Gentas Genel and Birikim Varlik 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 Gentas Genel with a short position of Birikim Varlik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentas Genel and Birikim Varlik.
Diversification Opportunities for Gentas Genel and Birikim Varlik
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Gentas and Birikim is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Gentas Genel Metal and Birikim Varlik Yonetim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Birikim Varlik Yonetim and Gentas Genel 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 Gentas Genel Metal are associated (or correlated) with Birikim Varlik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Birikim Varlik Yonetim has no effect on the direction of Gentas Genel i.e., Gentas Genel and Birikim Varlik go up and down completely randomly.
Pair Corralation between Gentas Genel and Birikim Varlik
Assuming the 90 days trading horizon Gentas Genel Metal is expected to generate 0.65 times more return on investment than Birikim Varlik. However, Gentas Genel Metal is 1.54 times less risky than Birikim Varlik. It trades about 0.12 of its potential returns per unit of risk. Birikim Varlik Yonetim is currently generating about 0.04 per unit of risk. If you would invest 816.00 in Gentas Genel Metal on September 12, 2024 and sell it today you would earn a total of 122.00 from holding Gentas Genel Metal or generate 14.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Gentas Genel Metal vs. Birikim Varlik Yonetim
Performance |
| Timeline |
| Gentas Genel Metal |
| Birikim Varlik Yonetim |
Gentas Genel and Birikim Varlik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentas Genel and Birikim Varlik
The main advantage of trading using opposite Gentas Genel and Birikim Varlik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentas Genel position performs unexpectedly, Birikim Varlik 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 Birikim Varlik will offset losses from the drop in Birikim Varlik's long position.| Gentas Genel vs. Turkiye Kalkinma Bankasi | Gentas Genel vs. Turkish Airlines | Gentas Genel vs. Borlease Otomotiv AS | Gentas Genel vs. Koza Anadolu Metal |
| Birikim Varlik vs. Politeknik Metal Sanayi | Birikim Varlik vs. Datagate Bilgisayar Malzemeleri | Birikim Varlik vs. Cuhadaroglu Metal Sanayi | Birikim Varlik vs. MEGA METAL |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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