Correlation Between Galatasaray Sportif and Ufuk Yatirim
Can any of the company-specific risk be diversified away by investing in both Galatasaray Sportif and Ufuk 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 Ufuk 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 Ufuk Yatirim Yonetim, you can compare the effects of market volatilities on Galatasaray Sportif and Ufuk 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 Ufuk Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galatasaray Sportif and Ufuk Yatirim.
Diversification Opportunities for Galatasaray Sportif and Ufuk Yatirim
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Galatasaray and Ufuk is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Galatasaray Sportif Sinai and Ufuk Yatirim Yonetim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ufuk Yatirim Yonetim 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 Ufuk Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ufuk Yatirim Yonetim has no effect on the direction of Galatasaray Sportif i.e., Galatasaray Sportif and Ufuk Yatirim go up and down completely randomly.
Pair Corralation between Galatasaray Sportif and Ufuk Yatirim
Assuming the 90 days trading horizon Galatasaray Sportif Sinai is expected to generate 0.89 times more return on investment than Ufuk Yatirim. However, Galatasaray Sportif Sinai is 1.12 times less risky than Ufuk Yatirim. It trades about -0.03 of its potential returns per unit of risk. Ufuk Yatirim Yonetim is currently generating about -0.11 per unit of risk. If you would invest 216.00 in Galatasaray Sportif Sinai on October 11, 2024 and sell it today you would lose (4.00) from holding Galatasaray Sportif Sinai or give up 1.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Galatasaray Sportif Sinai vs. Ufuk Yatirim Yonetim
Performance |
| Timeline |
| Galatasaray Sportif Sinai |
| Ufuk Yatirim Yonetim |
Galatasaray Sportif and Ufuk Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galatasaray Sportif and Ufuk Yatirim
The main advantage of trading using opposite Galatasaray Sportif and Ufuk Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galatasaray Sportif position performs unexpectedly, Ufuk 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 Ufuk Yatirim will offset losses from the drop in Ufuk Yatirim's long position.| Galatasaray Sportif vs. Bms Birlesik Metal | Galatasaray Sportif vs. Gentas Genel Metal | Galatasaray Sportif vs. Sekerbank TAS | Galatasaray Sportif vs. KOC METALURJI |
| Ufuk Yatirim vs. MEGA METAL | Ufuk Yatirim vs. Galatasaray Sportif Sinai | Ufuk Yatirim vs. Koza Anadolu Metal | Ufuk Yatirim vs. E Data Teknoloji Pazarlama |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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