Correlation Between Galatasaray Sportif and Dogus Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Dogus Gayrimenkul 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 Dogus Gayrimenkul 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 Dogus Gayrimenkul Yatirim, you can compare the effects of market volatilities on Galatasaray Sportif and Dogus Gayrimenkul 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 Dogus Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Dogus Gayrimenkul.
Diversification Opportunities for Galatasaray Sportif and Dogus Gayrimenkul
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Galatasaray and Dogus is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Dogus Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dogus Gayrimenkul Yatirim 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 Dogus Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dogus Gayrimenkul Yatirim has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Dogus Gayrimenkul go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Dogus Gayrimenkul
Assuming the 90 days trading horizon Galatasaray Sportif is expected to generate 1.54 times less return on investment than Dogus Gayrimenkul. In addition to that, Galatasaray Sportif is 1.15 times more volatile than Dogus Gayrimenkul Yatirim. It trades about 0.03 of its total potential returns per unit of risk. Dogus Gayrimenkul Yatirim is currently generating about 0.06 per unit of volatility. If you would invest 1,897 in Dogus Gayrimenkul Yatirim on September 13, 2024 and sell it today you would earn a total of 2,517 from holding Dogus Gayrimenkul Yatirim or generate 132.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Galatasaray Sportif Sinai vs. Dogus Gayrimenkul Yatirim
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Dogus Gayrimenkul Yatirim |
Galatasaray Sportif and Dogus Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Dogus Gayrimenkul
The main advantage of trading using opposite Galatasaray Sportif and Dogus Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Dogus Gayrimenkul 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 Dogus Gayrimenkul will offset losses from the drop in Dogus Gayrimenkul's long position.| Galatasaray Sportif vs. Bms Birlesik Metal | Galatasaray Sportif vs. MEGA METAL | Galatasaray Sportif vs. Cuhadaroglu Metal Sanayi | Galatasaray Sportif vs. Sodas Sodyum Sanayi |
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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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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