Correlation Between Hedef Holdings and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Hedef Holdings and Guler 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 Holdings and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hedef Holdings AS and Guler Yatirim Holding, you can compare the effects of market volatilities on Hedef Holdings and Guler 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 Holdings with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hedef Holdings and Guler Yatirim.
Diversification Opportunities for Hedef Holdings and Guler Yatirim
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Hedef and Guler is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Holdings AS and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding and Hedef Holdings 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 Holdings AS are associated (or correlated) with Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of Hedef Holdings i.e., Hedef Holdings and Guler Yatirim go up and down completely randomly.
Pair Corralation between Hedef Holdings and Guler Yatirim
Assuming the 90 days trading horizon Hedef Holdings AS is expected to under-perform the Guler Yatirim. But the stock apears to be less risky and, when comparing its historical volatility, Hedef Holdings AS is 1.27 times less risky than Guler Yatirim. The stock trades about -0.14 of its potential returns per unit of risk. The Guler Yatirim Holding is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,113 in Guler Yatirim Holding on September 5, 2024 and sell it today you would earn a total of 73.00 from holding Guler Yatirim Holding or generate 6.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hedef Holdings AS vs. Guler Yatirim Holding
Performance |
| Timeline |
| Hedef Holdings AS |
| Guler Yatirim Holding |
Hedef Holdings and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hedef Holdings and Guler Yatirim
The main advantage of trading using opposite Hedef Holdings and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hedef Holdings position performs unexpectedly, Guler 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| Hedef Holdings vs. Guler Yatirim Holding | Hedef Holdings vs. Yesil Yatirim Holding | Hedef Holdings vs. Hedef Girisim Sermayesi | Hedef Holdings vs. Is Yatirim Ortakligi |
| Guler Yatirim vs. Sekerbank TAS | Guler Yatirim vs. Datagate Bilgisayar Malzemeleri | Guler Yatirim vs. E Data Teknoloji Pazarlama | Guler Yatirim vs. Cuhadaroglu Metal Sanayi |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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