Correlation Between Hektas Ticaret and Aksu Enerji
Can any of the company-specific risk be diversified away by investing in both Hektas Ticaret and Aksu Enerji 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 Hektas Ticaret and Aksu Enerji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hektas Ticaret TAS and Aksu Enerji ve, you can compare the effects of market volatilities on Hektas Ticaret and Aksu Enerji 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 Hektas Ticaret with a short position of Aksu Enerji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hektas Ticaret and Aksu Enerji.
Diversification Opportunities for Hektas Ticaret and Aksu Enerji
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Hektas and Aksu is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Hektas Ticaret TAS and Aksu Enerji ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aksu Enerji ve and Hektas Ticaret 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 Hektas Ticaret TAS are associated (or correlated) with Aksu Enerji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aksu Enerji ve has no effect on the direction of Hektas Ticaret i.e., Hektas Ticaret and Aksu Enerji go up and down completely randomly.
Pair Corralation between Hektas Ticaret and Aksu Enerji
Assuming the 90 days trading horizon Hektas Ticaret TAS is expected to generate 0.95 times more return on investment than Aksu Enerji. However, Hektas Ticaret TAS is 1.05 times less risky than Aksu Enerji. It trades about 0.2 of its potential returns per unit of risk. Aksu Enerji ve is currently generating about 0.08 per unit of risk. If you would invest 365.00 in Hektas Ticaret TAS on August 30, 2024 and sell it today you would earn a total of 47.00 from holding Hektas Ticaret TAS or generate 12.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hektas Ticaret TAS vs. Aksu Enerji ve
Performance |
| Timeline |
| Hektas Ticaret TAS |
| Aksu Enerji ve |
Hektas Ticaret and Aksu Enerji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hektas Ticaret and Aksu Enerji
The main advantage of trading using opposite Hektas Ticaret and Aksu Enerji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hektas Ticaret position performs unexpectedly, Aksu Enerji 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 Aksu Enerji will offset losses from the drop in Aksu Enerji's long position.| Hektas Ticaret vs. SASA Polyester Sanayi | Hektas Ticaret vs. Eregli Demir ve | Hektas Ticaret vs. Turkiye Sise ve | Hektas Ticaret vs. Ford Otomotiv Sanayi |
| Aksu Enerji vs. Koza Anadolu Metal | Aksu Enerji vs. Turkiye Kalkinma Bankasi | Aksu Enerji vs. ICBC Turkey Bank | Aksu Enerji vs. Bms Birlesik Metal |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |