Correlation Between Guler Yatirim and Koza Anadolu
Can any of the company-specific risk be diversified away by investing in both Guler Yatirim and Koza Anadolu 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 Koza Anadolu 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 Koza Anadolu Metal, you can compare the effects of market volatilities on Guler Yatirim and Koza Anadolu 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 Koza Anadolu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guler Yatirim and Koza Anadolu.
Diversification Opportunities for Guler Yatirim and Koza Anadolu
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Guler and Koza is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Guler Yatirim Holding and Koza Anadolu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koza Anadolu Metal 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 Koza Anadolu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koza Anadolu Metal has no effect on the direction of Guler Yatirim i.e., Guler Yatirim and Koza Anadolu go up and down completely randomly.
Pair Corralation between Guler Yatirim and Koza Anadolu
Assuming the 90 days trading horizon Guler Yatirim is expected to generate 2.35 times less return on investment than Koza Anadolu. In addition to that, Guler Yatirim is 1.01 times more volatile than Koza Anadolu Metal. It trades about 0.03 of its total potential returns per unit of risk. Koza Anadolu Metal is currently generating about 0.07 per unit of volatility. If you would invest 4,826 in Koza Anadolu Metal on September 4, 2024 and sell it today you would earn a total of 2,224 from holding Koza Anadolu Metal or generate 46.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guler Yatirim Holding vs. Koza Anadolu Metal
Performance |
| Timeline |
| Guler Yatirim Holding |
| Koza Anadolu Metal |
Guler Yatirim and Koza Anadolu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guler Yatirim and Koza Anadolu
The main advantage of trading using opposite Guler Yatirim and Koza Anadolu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guler Yatirim position performs unexpectedly, Koza Anadolu 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 Koza Anadolu will offset losses from the drop in Koza Anadolu's long position.| Guler Yatirim vs. MEGA METAL | Guler Yatirim vs. Politeknik Metal Sanayi | Guler Yatirim vs. Sekerbank TAS | Guler Yatirim vs. Trabzonspor Sportif Yatirim |
| Koza Anadolu vs. Koza Altin Isletmeleri | Koza Anadolu vs. Ipek Dogal Enerji | Koza Anadolu vs. Petkim Petrokimya Holding | Koza Anadolu vs. Kardemir Karabuk Demir |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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