Correlation Between Gozde Girisim and Unlu Yatirim
Can any of the company-specific risk be diversified away by investing in both Gozde Girisim 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 Gozde Girisim and Unlu Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gozde Girisim Sermayesi and Unlu Yatirim Holding, you can compare the effects of market volatilities on Gozde Girisim 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 Gozde Girisim with a short position of Unlu Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gozde Girisim and Unlu Yatirim.
Diversification Opportunities for Gozde Girisim and Unlu Yatirim
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Gozde and Unlu is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Gozde Girisim Sermayesi 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 Gozde Girisim 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 Gozde Girisim Sermayesi 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 Gozde Girisim i.e., Gozde Girisim and Unlu Yatirim go up and down completely randomly.
Pair Corralation between Gozde Girisim and Unlu Yatirim
Assuming the 90 days trading horizon Gozde Girisim is expected to generate 2.44 times less return on investment than Unlu Yatirim. But when comparing it to its historical volatility, Gozde Girisim Sermayesi is 1.0 times less risky than Unlu Yatirim. It trades about 0.16 of its potential returns per unit of risk. Unlu Yatirim Holding is currently generating about 0.38 of returns per unit of risk over similar time horizon. If you would invest 1,339 in Unlu Yatirim Holding on September 13, 2024 and sell it today you would earn a total of 211.00 from holding Unlu Yatirim Holding or generate 15.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Gozde Girisim Sermayesi vs. Unlu Yatirim Holding
Performance |
| Timeline |
| Gozde Girisim Sermayesi |
| Unlu Yatirim Holding |
Gozde Girisim and Unlu Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gozde Girisim and Unlu Yatirim
The main advantage of trading using opposite Gozde Girisim and Unlu Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gozde Girisim 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.| Gozde Girisim vs. Verusa Holding AS | Gozde Girisim vs. Hedef Holdings AS | Gozde Girisim vs. GSD Holding AS | Gozde Girisim vs. Guler Yatirim Holding |
| Unlu Yatirim vs. Verusa Holding AS | Unlu Yatirim vs. Hedef Holdings AS | Unlu Yatirim vs. GSD Holding AS | Unlu Yatirim vs. Guler Yatirim Holding |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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