Correlation Between Halk Gayrimenkul and Kartonsan Karton
Can any of the company-specific risk be diversified away by investing in both Halk Gayrimenkul and Kartonsan Karton 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 Halk Gayrimenkul and Kartonsan Karton into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Halk Gayrimenkul Yatirim and Kartonsan Karton Sanayi, you can compare the effects of market volatilities on Halk Gayrimenkul and Kartonsan Karton 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 Halk Gayrimenkul with a short position of Kartonsan Karton. Check out your portfolio center. Please also check ongoing floating volatility patterns of Halk Gayrimenkul and Kartonsan Karton.
Diversification Opportunities for Halk Gayrimenkul and Kartonsan Karton
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Halk and Kartonsan is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Halk Gayrimenkul Yatirim and Kartonsan Karton Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kartonsan Karton Sanayi and Halk Gayrimenkul 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 Halk Gayrimenkul Yatirim are associated (or correlated) with Kartonsan Karton. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kartonsan Karton Sanayi has no effect on the direction of Halk Gayrimenkul i.e., Halk Gayrimenkul and Kartonsan Karton go up and down completely randomly.
Pair Corralation between Halk Gayrimenkul and Kartonsan Karton
Assuming the 90 days trading horizon Halk Gayrimenkul is expected to generate 2.1 times less return on investment than Kartonsan Karton. But when comparing it to its historical volatility, Halk Gayrimenkul Yatirim is 1.23 times less risky than Kartonsan Karton. It trades about 0.02 of its potential returns per unit of risk. Kartonsan Karton Sanayi is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 7,570 in Kartonsan Karton Sanayi on December 1, 2024 and sell it today you would earn a total of 2,510 from holding Kartonsan Karton Sanayi or generate 33.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Halk Gayrimenkul Yatirim vs. Kartonsan Karton Sanayi
Performance |
| Timeline |
| Halk Gayrimenkul Yatirim |
| Kartonsan Karton Sanayi |
Halk Gayrimenkul and Kartonsan Karton Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Halk Gayrimenkul and Kartonsan Karton
The main advantage of trading using opposite Halk Gayrimenkul and Kartonsan Karton positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Halk Gayrimenkul position performs unexpectedly, Kartonsan Karton 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 Kartonsan Karton will offset losses from the drop in Kartonsan Karton's long position.| Halk Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Halk Gayrimenkul vs. Creditwest Faktoring AS | Halk Gayrimenkul vs. KOC METALURJI | Halk Gayrimenkul vs. Bms Birlesik Metal |
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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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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