Correlation Between Gentas Genel and Dofer Yapi
Can any of the company-specific risk be diversified away by investing in both Gentas Genel and Dofer Yapi 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 Dofer Yapi 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 Dofer Yapi Malzemeleri, you can compare the effects of market volatilities on Gentas Genel and Dofer Yapi 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 Dofer Yapi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentas Genel and Dofer Yapi.
Diversification Opportunities for Gentas Genel and Dofer Yapi
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Gentas and Dofer is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gentas Genel Metal and Dofer Yapi Malzemeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dofer Yapi Malzemeleri 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 Dofer Yapi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dofer Yapi Malzemeleri has no effect on the direction of Gentas Genel i.e., Gentas Genel and Dofer Yapi go up and down completely randomly.
Pair Corralation between Gentas Genel and Dofer Yapi
If you would invest 431.00 in Gentas Genel Metal on September 12, 2024 and sell it today you would earn a total of 516.00 from holding Gentas Genel Metal or generate 119.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Gentas Genel Metal vs. Dofer Yapi Malzemeleri
Performance |
| Timeline |
| Gentas Genel Metal |
| Dofer Yapi Malzemeleri |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Gentas Genel and Dofer Yapi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentas Genel and Dofer Yapi
The main advantage of trading using opposite Gentas Genel and Dofer Yapi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentas Genel position performs unexpectedly, Dofer Yapi 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 Dofer Yapi will offset losses from the drop in Dofer Yapi's long position.| Gentas Genel vs. Ege Endustri ve | Gentas Genel vs. Turkiye Petrol Rafinerileri | Gentas Genel vs. Turkiye Garanti Bankasi | Gentas Genel vs. Turkish Airlines |
| Dofer Yapi vs. Cuhadaroglu Metal Sanayi | Dofer Yapi vs. CEO Event Medya | Dofer Yapi vs. Galatasaray Sportif Sinai | Dofer Yapi 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |