Correlation Between Galatasaray Sportif and Nurol Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Nurol 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 Nurol 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 Nurol Gayrimenkul Yatirim, you can compare the effects of market volatilities on Galatasaray Sportif and Nurol 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 Nurol Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Nurol Gayrimenkul.
Diversification Opportunities for Galatasaray Sportif and Nurol Gayrimenkul
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Galatasaray and Nurol is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Nurol Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nurol 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 Nurol Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nurol Gayrimenkul Yatirim has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Nurol Gayrimenkul go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Nurol Gayrimenkul
Assuming the 90 days trading horizon Galatasaray Sportif Sinai is expected to under-perform the Nurol Gayrimenkul. But the stock apears to be less risky and, when comparing its historical volatility, Galatasaray Sportif Sinai is 1.22 times less risky than Nurol Gayrimenkul. The stock trades about -0.26 of its potential returns per unit of risk. The Nurol Gayrimenkul Yatirim is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest 797.00 in Nurol Gayrimenkul Yatirim on September 19, 2024 and sell it today you would lose (30.00) from holding Nurol Gayrimenkul Yatirim or give up 3.76% 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. Nurol Gayrimenkul Yatirim
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Nurol Gayrimenkul Yatirim |
Galatasaray Sportif and Nurol Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Nurol Gayrimenkul
The main advantage of trading using opposite Galatasaray Sportif and Nurol Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Nurol 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 Nurol Gayrimenkul will offset losses from the drop in Nurol Gayrimenkul'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 |
| Nurol Gayrimenkul vs. Koza Anadolu Metal | Nurol Gayrimenkul vs. Akcansa Cimento Sanayi | Nurol Gayrimenkul vs. Galatasaray Sportif Sinai | Nurol Gayrimenkul vs. Bms Birlesik Metal |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |