Correlation Between Guler Yatirim and CEO Event
Can any of the company-specific risk be diversified away by investing in both Guler Yatirim and CEO Event 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 Guler Yatirim and CEO Event into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Guler Yatirim Holding and CEO Event Medya, you can compare the effects of market volatilities on Guler Yatirim and CEO Event 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 Guler Yatirim with a short position of CEO Event. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guler Yatirim and CEO Event.
Diversification Opportunities for Guler Yatirim and CEO Event
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Guler and CEO is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Guler Yatirim Holding and CEO Event Medya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CEO Event Medya and Guler Yatirim 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 Guler Yatirim Holding are associated (or correlated) with CEO Event. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CEO Event Medya has no effect on the direction of Guler Yatirim i.e., Guler Yatirim and CEO Event go up and down completely randomly.
Pair Corralation between Guler Yatirim and CEO Event
Assuming the 90 days trading horizon Guler Yatirim is expected to generate 4.44 times less return on investment than CEO Event. But when comparing it to its historical volatility, Guler Yatirim Holding is 1.48 times less risky than CEO Event. It trades about 0.02 of its potential returns per unit of risk. CEO Event Medya is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,984 in CEO Event Medya on September 14, 2024 and sell it today you would earn a total of 1,018 from holding CEO Event Medya or generate 51.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.63% |
| Values | Daily Returns |
Guler Yatirim Holding vs. CEO Event Medya
Performance |
| Timeline |
| Guler Yatirim Holding |
| CEO Event Medya |
Guler Yatirim and CEO Event Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guler Yatirim and CEO Event
The main advantage of trading using opposite Guler Yatirim and CEO Event positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guler Yatirim position performs unexpectedly, CEO Event 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 CEO Event will offset losses from the drop in CEO Event's long position.| Guler Yatirim vs. CEO Event Medya | Guler Yatirim vs. Cuhadaroglu Metal Sanayi | Guler Yatirim vs. Turkiye Kalkinma Bankasi | Guler Yatirim vs. Gentas Genel Metal |
| CEO Event vs. Prizma Pres Matbaacilik | CEO Event vs. Dogus Gayrimenkul Yatirim | CEO Event vs. IZDEMIR Enerji Elektrik | CEO Event vs. Logo Yazilim Sanayi |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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