Correlation Between Gentas Genel and Escort Teknoloji
Can any of the company-specific risk be diversified away by investing in both Gentas Genel and Escort Teknoloji 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 Escort Teknoloji 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 Escort Teknoloji Yatirim, you can compare the effects of market volatilities on Gentas Genel and Escort Teknoloji 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 Escort Teknoloji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentas Genel and Escort Teknoloji.
Diversification Opportunities for Gentas Genel and Escort Teknoloji
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Gentas and Escort is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Gentas Genel Metal and Escort Teknoloji Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Escort Teknoloji Yatirim 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 Escort Teknoloji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Escort Teknoloji Yatirim has no effect on the direction of Gentas Genel i.e., Gentas Genel and Escort Teknoloji go up and down completely randomly.
Pair Corralation between Gentas Genel and Escort Teknoloji
Assuming the 90 days trading horizon Gentas Genel Metal is expected to generate 1.54 times more return on investment than Escort Teknoloji. However, Gentas Genel is 1.54 times more volatile than Escort Teknoloji Yatirim. It trades about 0.25 of its potential returns per unit of risk. Escort Teknoloji Yatirim is currently generating about 0.12 per unit of risk. If you would invest 959.00 in Gentas Genel Metal on October 23, 2024 and sell it today you would earn a total of 186.00 from holding Gentas Genel Metal or generate 19.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gentas Genel Metal vs. Escort Teknoloji Yatirim
Performance |
| Timeline |
| Gentas Genel Metal |
| Escort Teknoloji Yatirim |
Gentas Genel and Escort Teknoloji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentas Genel and Escort Teknoloji
The main advantage of trading using opposite Gentas Genel and Escort Teknoloji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentas Genel position performs unexpectedly, Escort Teknoloji 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 Escort Teknoloji will offset losses from the drop in Escort Teknoloji's long position.| Gentas Genel vs. Turkish Airlines | Gentas Genel vs. Mackolik Internet Hizmetleri | Gentas Genel vs. Cuhadaroglu Metal Sanayi | Gentas Genel vs. KOC METALURJI |
| Escort Teknoloji vs. Politeknik Metal Sanayi | Escort Teknoloji vs. MEGA METAL | Escort Teknoloji vs. Gentas Genel Metal | Escort Teknoloji vs. E Data Teknoloji Pazarlama |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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