Correlation Between Hedef Girisim and Hedef Holdings
Can any of the company-specific risk be diversified away by investing in both Hedef Girisim and Hedef Holdings 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 Hedef Girisim and Hedef Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hedef Girisim Sermayesi and Hedef Holdings AS, you can compare the effects of market volatilities on Hedef Girisim and Hedef Holdings 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 Hedef Girisim with a short position of Hedef Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hedef Girisim and Hedef Holdings.
Diversification Opportunities for Hedef Girisim and Hedef Holdings
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Hedef and Hedef is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Girisim Sermayesi and Hedef Holdings AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hedef Holdings AS and Hedef Girisim 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 Hedef Girisim Sermayesi are associated (or correlated) with Hedef Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hedef Holdings AS has no effect on the direction of Hedef Girisim i.e., Hedef Girisim and Hedef Holdings go up and down completely randomly.
Pair Corralation between Hedef Girisim and Hedef Holdings
Assuming the 90 days trading horizon Hedef Girisim is expected to generate 23.79 times less return on investment than Hedef Holdings. But when comparing it to its historical volatility, Hedef Girisim Sermayesi is 4.38 times less risky than Hedef Holdings. It trades about 0.01 of its potential returns per unit of risk. Hedef Holdings AS is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 424.00 in Hedef Holdings AS on September 5, 2024 and sell it today you would lose (114.00) from holding Hedef Holdings AS or give up 26.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hedef Girisim Sermayesi vs. Hedef Holdings AS
Performance |
| Timeline |
| Hedef Girisim Sermayesi |
| Hedef Holdings AS |
Hedef Girisim and Hedef Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hedef Girisim and Hedef Holdings
The main advantage of trading using opposite Hedef Girisim and Hedef Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hedef Girisim position performs unexpectedly, Hedef Holdings 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 Hedef Holdings will offset losses from the drop in Hedef Holdings' long position.| Hedef Girisim vs. Creditwest Faktoring AS | Hedef Girisim vs. Koza Anadolu Metal | Hedef Girisim vs. Sekerbank TAS | Hedef Girisim vs. Mackolik Internet Hizmetleri |
| Hedef Holdings vs. Guler Yatirim Holding | Hedef Holdings vs. Yesil Yatirim Holding | Hedef Holdings vs. Hedef Girisim Sermayesi | Hedef Holdings vs. Is Yatirim Ortakligi |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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