Correlation Between GSD Holding and Royal Hali
Can any of the company-specific risk be diversified away by investing in both GSD Holding and Royal Hali 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 GSD Holding and Royal Hali into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GSD Holding AS and Royal Hali Iplik, you can compare the effects of market volatilities on GSD Holding and Royal Hali 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 GSD Holding with a short position of Royal Hali. Check out your portfolio center. Please also check ongoing floating volatility patterns of GSD Holding and Royal Hali.
Diversification Opportunities for GSD Holding and Royal Hali
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GSD and Royal is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GSD Holding AS and Royal Hali Iplik in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Royal Hali Iplik and GSD Holding 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 GSD Holding AS are associated (or correlated) with Royal Hali. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Royal Hali Iplik has no effect on the direction of GSD Holding i.e., GSD Holding and Royal Hali go up and down completely randomly.
Pair Corralation between GSD Holding and Royal Hali
If you would invest 680.00 in Royal Hali Iplik on November 28, 2024 and sell it today you would earn a total of 0.00 from holding Royal Hali Iplik or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GSD Holding AS vs. Royal Hali Iplik
Performance |
| Timeline |
| GSD Holding AS |
| Royal Hali Iplik |
GSD Holding and Royal Hali Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GSD Holding and Royal Hali
The main advantage of trading using opposite GSD Holding and Royal Hali positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GSD Holding position performs unexpectedly, Royal Hali 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 Royal Hali will offset losses from the drop in Royal Hali's long position.| GSD Holding vs. Cuhadaroglu Metal Sanayi | GSD Holding vs. MEGA METAL | GSD Holding vs. Trabzonspor Sportif Yatirim | GSD Holding vs. KOC METALURJI |
| Royal Hali vs. KOC METALURJI | Royal Hali vs. Cuhadaroglu Metal Sanayi | Royal Hali vs. Turkiye Kalkinma Bankasi | Royal Hali vs. Politeknik Metal 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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