Correlation Between Galatasaray Sportif and Aksu Enerji
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Aksu Enerji 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 Galatasaray Sportif and Aksu Enerji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Galatasaray Sportif Sinai and Aksu Enerji ve, you can compare the effects of market volatilities on Galatasaray Sportif and Aksu Enerji 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 Galatasaray Sportif with a short position of Aksu Enerji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Aksu Enerji.
Diversification Opportunities for Galatasaray Sportif and Aksu Enerji
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Galatasaray and Aksu is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Aksu Enerji ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aksu Enerji ve and Galatasaray Sportif 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 Galatasaray Sportif Sinai are associated (or correlated) with Aksu Enerji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aksu Enerji ve has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Aksu Enerji go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Aksu Enerji
Assuming the 90 days trading horizon Galatasaray Sportif Sinai is expected to generate 5.21 times more return on investment than Aksu Enerji. However, Galatasaray Sportif is 5.21 times more volatile than Aksu Enerji ve. It trades about 0.04 of its potential returns per unit of risk. Aksu Enerji ve is currently generating about 0.0 per unit of risk. If you would invest 241.00 in Galatasaray Sportif Sinai on October 24, 2024 and sell it today you would lose (32.00) from holding Galatasaray Sportif Sinai or give up 13.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
Galatasaray Sportif Sinai vs. Aksu Enerji ve
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Aksu Enerji ve |
Galatasaray Sportif and Aksu Enerji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Aksu Enerji
The main advantage of trading using opposite Galatasaray Sportif and Aksu Enerji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Aksu Enerji 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 Aksu Enerji will offset losses from the drop in Aksu Enerji's long position.| Galatasaray Sportif vs. Bms Birlesik Metal | Galatasaray Sportif vs. MEGA METAL | Galatasaray Sportif vs. Gentas Genel Metal | Galatasaray Sportif vs. Silverline Endustri ve |
| Aksu Enerji vs. Cuhadaroglu Metal Sanayi | Aksu Enerji vs. Koza Anadolu Metal | Aksu Enerji vs. KOC METALURJI | Aksu Enerji vs. Galatasaray Sportif Sinai |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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