Correlation Between Hedef Girisim and Mackolik Internet
Can any of the company-specific risk be diversified away by investing in both Hedef Girisim and Mackolik Internet 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 Mackolik Internet 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 Mackolik Internet Hizmetleri, you can compare the effects of market volatilities on Hedef Girisim and Mackolik Internet 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 Mackolik Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hedef Girisim and Mackolik Internet.
Diversification Opportunities for Hedef Girisim and Mackolik Internet
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Hedef and Mackolik is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Girisim Sermayesi and Mackolik Internet Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mackolik Internet 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 Mackolik Internet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mackolik Internet has no effect on the direction of Hedef Girisim i.e., Hedef Girisim and Mackolik Internet go up and down completely randomly.
Pair Corralation between Hedef Girisim and Mackolik Internet
Assuming the 90 days trading horizon Hedef Girisim Sermayesi is expected to under-perform the Mackolik Internet. But the stock apears to be less risky and, when comparing its historical volatility, Hedef Girisim Sermayesi is 1.2 times less risky than Mackolik Internet. The stock trades about -0.02 of its potential returns per unit of risk. The Mackolik Internet Hizmetleri is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 7,503 in Mackolik Internet Hizmetleri on September 3, 2024 and sell it today you would earn a total of 2,947 from holding Mackolik Internet Hizmetleri or generate 39.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hedef Girisim Sermayesi vs. Mackolik Internet Hizmetleri
Performance |
| Timeline |
| Hedef Girisim Sermayesi |
| Mackolik Internet |
Hedef Girisim and Mackolik Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hedef Girisim and Mackolik Internet
The main advantage of trading using opposite Hedef Girisim and Mackolik Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hedef Girisim position performs unexpectedly, Mackolik Internet 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 Mackolik Internet will offset losses from the drop in Mackolik Internet's long position.| Hedef Girisim vs. Sodas Sodyum Sanayi | Hedef Girisim vs. Turkiye Kalkinma Bankasi | Hedef Girisim vs. Politeknik Metal Sanayi | Hedef Girisim vs. Datagate Bilgisayar Malzemeleri |
| Mackolik Internet vs. Pamel Yenilenebilir Elektrik | Mackolik Internet vs. Brisa Bridgestone Sabanci | Mackolik Internet vs. Dogus Gayrimenkul Yatirim | Mackolik Internet vs. IZDEMIR Enerji Elektrik |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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