Correlation Between Gentas Genel and Unlu Yatirim
Can any of the company-specific risk be diversified away by investing in both Gentas Genel and Unlu Yatirim 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 Unlu Yatirim 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 Unlu Yatirim Holding, you can compare the effects of market volatilities on Gentas Genel and Unlu Yatirim 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 Unlu Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentas Genel and Unlu Yatirim.
Diversification Opportunities for Gentas Genel and Unlu Yatirim
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Gentas and Unlu is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Gentas Genel Metal and Unlu Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unlu Yatirim Holding 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 Unlu Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unlu Yatirim Holding has no effect on the direction of Gentas Genel i.e., Gentas Genel and Unlu Yatirim go up and down completely randomly.
Pair Corralation between Gentas Genel and Unlu Yatirim
Assuming the 90 days trading horizon Gentas Genel Metal is expected to generate 1.03 times more return on investment than Unlu Yatirim. However, Gentas Genel is 1.03 times more volatile than Unlu Yatirim Holding. It trades about 0.05 of its potential returns per unit of risk. Unlu Yatirim Holding is currently generating about 0.03 per unit of risk. If you would invest 527.00 in Gentas Genel Metal on September 3, 2024 and sell it today you would earn a total of 362.00 from holding Gentas Genel Metal or generate 68.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gentas Genel Metal vs. Unlu Yatirim Holding
Performance |
| Timeline |
| Gentas Genel Metal |
| Unlu Yatirim Holding |
Gentas Genel and Unlu Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentas Genel and Unlu Yatirim
The main advantage of trading using opposite Gentas Genel and Unlu Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentas Genel position performs unexpectedly, Unlu Yatirim 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 Unlu Yatirim will offset losses from the drop in Unlu Yatirim'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 |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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