Correlation Between Hedef Girisim and Unlu Yatirim
Can any of the company-specific risk be diversified away by investing in both Hedef Girisim and Unlu 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 Hedef Girisim and Unlu Yatirim 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 Unlu Yatirim Holding, you can compare the effects of market volatilities on Hedef Girisim and Unlu 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 Hedef Girisim with a short position of Unlu Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hedef Girisim and Unlu Yatirim.
Diversification Opportunities for Hedef Girisim and Unlu Yatirim
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Hedef and Unlu is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Girisim Sermayesi and Unlu Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unlu Yatirim Holding 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 Unlu Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unlu Yatirim Holding has no effect on the direction of Hedef Girisim i.e., Hedef Girisim and Unlu Yatirim go up and down completely randomly.
Pair Corralation between Hedef Girisim and Unlu Yatirim
Assuming the 90 days trading horizon Hedef Girisim Sermayesi is expected to generate 0.84 times more return on investment than Unlu Yatirim. However, Hedef Girisim Sermayesi is 1.19 times less risky than Unlu Yatirim. It trades about 0.45 of its potential returns per unit of risk. Unlu Yatirim Holding is currently generating about 0.35 per unit of risk. If you would invest 136.00 in Hedef Girisim Sermayesi on September 4, 2024 and sell it today you would earn a total of 20.00 from holding Hedef Girisim Sermayesi or generate 14.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Hedef Girisim Sermayesi vs. Unlu Yatirim Holding
Performance |
| Timeline |
| Hedef Girisim Sermayesi |
| Unlu Yatirim Holding |
Hedef Girisim and Unlu Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hedef Girisim and Unlu Yatirim
The main advantage of trading using opposite Hedef Girisim and Unlu Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hedef Girisim position performs unexpectedly, Unlu 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 Unlu Yatirim will offset losses from the drop in Unlu Yatirim's long position.| Hedef Girisim vs. Desa Deri Sanayi | Hedef Girisim vs. Tumosan Motor ve | Hedef Girisim vs. Ihlas Gazetecilik AS | Hedef Girisim vs. Kuyas Yatirim AS |
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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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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