Correlation Between Hedef Girisim and Verusaturk Girisim
Can any of the company-specific risk be diversified away by investing in both Hedef Girisim and Verusaturk Girisim 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 Verusaturk Girisim 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 Verusaturk Girisim Sermayesi, you can compare the effects of market volatilities on Hedef Girisim and Verusaturk Girisim 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 Verusaturk Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hedef Girisim and Verusaturk Girisim.
Diversification Opportunities for Hedef Girisim and Verusaturk Girisim
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Hedef and Verusaturk is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Girisim Sermayesi and Verusaturk Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Verusaturk Girisim 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 Verusaturk Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Verusaturk Girisim has no effect on the direction of Hedef Girisim i.e., Hedef Girisim and Verusaturk Girisim go up and down completely randomly.
Pair Corralation between Hedef Girisim and Verusaturk Girisim
Assuming the 90 days trading horizon Hedef Girisim Sermayesi is expected to generate 4.94 times more return on investment than Verusaturk Girisim. However, Hedef Girisim is 4.94 times more volatile than Verusaturk Girisim Sermayesi. It trades about 0.12 of its potential returns per unit of risk. Verusaturk Girisim Sermayesi is currently generating about -0.31 per unit of risk. If you would invest 153.00 in Hedef Girisim Sermayesi on December 4, 2024 and sell it today you would earn a total of 22.00 from holding Hedef Girisim Sermayesi or generate 14.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hedef Girisim Sermayesi vs. Verusaturk Girisim Sermayesi
Performance |
| Timeline |
| Hedef Girisim Sermayesi |
| Verusaturk Girisim |
Hedef Girisim and Verusaturk Girisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hedef Girisim and Verusaturk Girisim
The main advantage of trading using opposite Hedef Girisim and Verusaturk Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hedef Girisim position performs unexpectedly, Verusaturk Girisim 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 Verusaturk Girisim will offset losses from the drop in Verusaturk Girisim's long position.| Hedef Girisim vs. Sodas Sodyum Sanayi | Hedef Girisim vs. MEGA METAL | Hedef Girisim vs. Borlease Otomotiv AS | Hedef Girisim vs. Cuhadaroglu Metal Sanayi |
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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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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