Correlation Between Gentas Genel and Yesil Yatirim
Can any of the company-specific risk be diversified away by investing in both Gentas Genel and Yesil 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 Yesil 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 Yesil Yatirim Holding, you can compare the effects of market volatilities on Gentas Genel and Yesil 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 Yesil Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gentas Genel and Yesil Yatirim.
Diversification Opportunities for Gentas Genel and Yesil Yatirim
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Gentas and Yesil is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Gentas Genel Metal and Yesil Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil 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 Yesil Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Yatirim Holding has no effect on the direction of Gentas Genel i.e., Gentas Genel and Yesil Yatirim go up and down completely randomly.
Pair Corralation between Gentas Genel and Yesil Yatirim
Assuming the 90 days trading horizon Gentas Genel Metal is expected to generate 0.68 times more return on investment than Yesil Yatirim. However, Gentas Genel Metal is 1.46 times less risky than Yesil Yatirim. It trades about 0.01 of its potential returns per unit of risk. Yesil Yatirim Holding is currently generating about 0.0 per unit of risk. If you would invest 899.00 in Gentas Genel Metal on September 2, 2024 and sell it today you would lose (24.00) from holding Gentas Genel Metal or give up 2.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gentas Genel Metal vs. Yesil Yatirim Holding
Performance |
| Timeline |
| Gentas Genel Metal |
| Yesil Yatirim Holding |
Gentas Genel and Yesil Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gentas Genel and Yesil Yatirim
The main advantage of trading using opposite Gentas Genel and Yesil Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gentas Genel position performs unexpectedly, Yesil 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 Yesil Yatirim will offset losses from the drop in Yesil Yatirim's long position.| Gentas Genel vs. Cuhadaroglu Metal Sanayi | Gentas Genel vs. Bms Birlesik Metal | Gentas Genel vs. Creditwest Faktoring AS | Gentas Genel vs. Koza Anadolu Metal |
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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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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