Correlation Between Gentas Genel and Hedef Girisim
Can any of the company-specific risk be diversified away by investing in both Gentas Genel and Hedef Girisim 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 Hedef Girisim 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 Hedef Girisim Sermayesi, you can compare the effects of market volatilities on Gentas Genel and Hedef Girisim 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 Hedef Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentas Genel and Hedef Girisim.
Diversification Opportunities for Gentas Genel and Hedef Girisim
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Gentas and Hedef is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Gentas Genel Metal and Hedef Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hedef Girisim Sermayesi 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 Hedef Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hedef Girisim Sermayesi has no effect on the direction of Gentas Genel i.e., Gentas Genel and Hedef Girisim go up and down completely randomly.
Pair Corralation between Gentas Genel and Hedef Girisim
Assuming the 90 days trading horizon Gentas Genel Metal is expected to generate 1.03 times more return on investment than Hedef Girisim. However, Gentas Genel is 1.03 times more volatile than Hedef Girisim Sermayesi. It trades about 0.01 of its potential returns per unit of risk. Hedef Girisim Sermayesi is currently generating about -0.02 per unit of risk. If you would invest 880.00 in Gentas Genel Metal on September 3, 2024 and sell it today you would earn a total of 9.00 from holding Gentas Genel Metal or generate 1.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gentas Genel Metal vs. Hedef Girisim Sermayesi
Performance |
| Timeline |
| Gentas Genel Metal |
| Hedef Girisim Sermayesi |
Gentas Genel and Hedef Girisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentas Genel and Hedef Girisim
The main advantage of trading using opposite Gentas Genel and Hedef Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentas Genel position performs unexpectedly, Hedef Girisim 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 Hedef Girisim will offset losses from the drop in Hedef Girisim's long position.| Gentas Genel vs. Turkiye Petrol Rafinerileri | Gentas Genel vs. Koc Holding AS | Gentas Genel vs. Arcelik AS | Gentas Genel vs. Turkiye Garanti Bankasi |
| Hedef Girisim vs. Sodas Sodyum Sanayi | Hedef Girisim vs. Turkiye Kalkinma Bankasi | Hedef Girisim vs. Politeknik Metal Sanayi | Hedef Girisim vs. Datagate Bilgisayar Malzemeleri |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |