Correlation Between Galatasaray Sportif and Dagi Yatirim
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Dagi 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 Galatasaray Sportif and Dagi Yatirim 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 Dagi Yatirim Holding, you can compare the effects of market volatilities on Galatasaray Sportif and Dagi 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 Galatasaray Sportif with a short position of Dagi Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Dagi Yatirim.
Diversification Opportunities for Galatasaray Sportif and Dagi Yatirim
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Galatasaray and Dagi is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Dagi Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dagi Yatirim Holding 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 Dagi Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dagi Yatirim Holding has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Dagi Yatirim go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Dagi Yatirim
Assuming the 90 days trading horizon Galatasaray Sportif Sinai is expected to generate 1.3 times more return on investment than Dagi Yatirim. However, Galatasaray Sportif is 1.3 times more volatile than Dagi Yatirim Holding. It trades about 0.04 of its potential returns per unit of risk. Dagi Yatirim Holding is currently generating about 0.04 per unit of risk. If you would invest 483.00 in Galatasaray Sportif Sinai on September 14, 2024 and sell it today you would earn a total of 177.00 from holding Galatasaray Sportif Sinai or generate 36.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Galatasaray Sportif Sinai vs. Dagi Yatirim Holding
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Dagi Yatirim Holding |
Galatasaray Sportif and Dagi Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Dagi Yatirim
The main advantage of trading using opposite Galatasaray Sportif and Dagi Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Dagi 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 Dagi Yatirim will offset losses from the drop in Dagi Yatirim's long position.| Galatasaray Sportif vs. Koza Anadolu Metal | Galatasaray Sportif vs. Bms Birlesik Metal | Galatasaray Sportif vs. MEGA METAL | Galatasaray Sportif vs. Gentas Genel Metal |
| Dagi Yatirim vs. Koza Anadolu Metal | Dagi Yatirim vs. Galatasaray Sportif Sinai | Dagi Yatirim vs. Turkiye Kalkinma Bankasi | Dagi Yatirim vs. Akcansa Cimento 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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