Correlation Between Galatasaray Sportif and Ingram Micro
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Ingram Micro 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 Ingram Micro 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 Ingram Micro Bilisim, you can compare the effects of market volatilities on Galatasaray Sportif and Ingram Micro 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 Ingram Micro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Ingram Micro.
Diversification Opportunities for Galatasaray Sportif and Ingram Micro
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Galatasaray and Ingram is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Ingram Micro Bilisim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingram Micro Bilisim 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 Ingram Micro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingram Micro Bilisim has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Ingram Micro go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Ingram Micro
Assuming the 90 days trading horizon Galatasaray Sportif is expected to generate 1.51 times less return on investment than Ingram Micro. In addition to that, Galatasaray Sportif is 1.11 times more volatile than Ingram Micro Bilisim. It trades about 0.04 of its total potential returns per unit of risk. Ingram Micro Bilisim is currently generating about 0.07 per unit of volatility. If you would invest 17,500 in Ingram Micro Bilisim on September 19, 2024 and sell it today you would earn a total of 28,300 from holding Ingram Micro Bilisim or generate 161.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.99% |
| Values | Daily Returns |
Galatasaray Sportif Sinai vs. Ingram Micro Bilisim
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Ingram Micro Bilisim |
Galatasaray Sportif and Ingram Micro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Ingram Micro
The main advantage of trading using opposite Galatasaray Sportif and Ingram Micro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Ingram Micro 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 Ingram Micro will offset losses from the drop in Ingram Micro'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 |
| Ingram Micro vs. Politeknik Metal Sanayi | Ingram Micro vs. Sekerbank TAS | Ingram Micro vs. Galatasaray Sportif Sinai | Ingram Micro 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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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