Correlation Between Galatasaray Sportif and Ihlas Yayin
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Ihlas Yayin 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 Ihlas Yayin 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 Ihlas Yayin Holding, you can compare the effects of market volatilities on Galatasaray Sportif and Ihlas Yayin 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 Ihlas Yayin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Ihlas Yayin.
Diversification Opportunities for Galatasaray Sportif and Ihlas Yayin
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Galatasaray and Ihlas is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Ihlas Yayin Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ihlas Yayin 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 Ihlas Yayin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ihlas Yayin Holding has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Ihlas Yayin go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Ihlas Yayin
Assuming the 90 days trading horizon Galatasaray Sportif Sinai is expected to generate 0.35 times more return on investment than Ihlas Yayin. However, Galatasaray Sportif Sinai is 2.86 times less risky than Ihlas Yayin. It trades about -0.27 of its potential returns per unit of risk. Ihlas Yayin Holding is currently generating about -0.31 per unit of risk. If you would invest 690.00 in Galatasaray Sportif Sinai on September 20, 2024 and sell it today you would lose (64.00) from holding Galatasaray Sportif Sinai or give up 9.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Galatasaray Sportif Sinai vs. Ihlas Yayin Holding
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Ihlas Yayin Holding |
Galatasaray Sportif and Ihlas Yayin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Ihlas Yayin
The main advantage of trading using opposite Galatasaray Sportif and Ihlas Yayin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Ihlas Yayin 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 Ihlas Yayin will offset losses from the drop in Ihlas Yayin's long position.| Galatasaray Sportif vs. Turkiye Garanti Bankasi | Galatasaray Sportif vs. Turkiye Is Bankasi | Galatasaray Sportif vs. Turkiye Is Bankasi | Galatasaray Sportif vs. Akbank TAS |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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