Correlation Between Halk Gayrimenkul and Koza Altin
Can any of the company-specific risk be diversified away by investing in both Halk Gayrimenkul and Koza Altin 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 Koza Altin 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 Koza Altin Isletmeleri, you can compare the effects of market volatilities on Halk Gayrimenkul and Koza Altin 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 Koza Altin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Halk Gayrimenkul and Koza Altin.
Diversification Opportunities for Halk Gayrimenkul and Koza Altin
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Halk and Koza is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Halk Gayrimenkul Yatirim and Koza Altin Isletmeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koza Altin Isletmeleri 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 Koza Altin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koza Altin Isletmeleri has no effect on the direction of Halk Gayrimenkul i.e., Halk Gayrimenkul and Koza Altin go up and down completely randomly.
Pair Corralation between Halk Gayrimenkul and Koza Altin
Assuming the 90 days trading horizon Halk Gayrimenkul Yatirim is expected to generate 0.8 times more return on investment than Koza Altin. However, Halk Gayrimenkul Yatirim is 1.24 times less risky than Koza Altin. It trades about 0.39 of its potential returns per unit of risk. Koza Altin Isletmeleri is currently generating about 0.29 per unit of risk. If you would invest 221.00 in Halk Gayrimenkul Yatirim on September 3, 2024 and sell it today you would earn a total of 44.00 from holding Halk Gayrimenkul Yatirim or generate 19.91% 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. Koza Altin Isletmeleri
Performance |
| Timeline |
| Halk Gayrimenkul Yatirim |
| Koza Altin Isletmeleri |
Halk Gayrimenkul and Koza Altin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Halk Gayrimenkul and Koza Altin
The main advantage of trading using opposite Halk Gayrimenkul and Koza Altin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Halk Gayrimenkul position performs unexpectedly, Koza Altin 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 Koza Altin will offset losses from the drop in Koza Altin's long position.| Halk Gayrimenkul vs. Turkiye Kalkinma Bankasi | Halk Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Halk Gayrimenkul vs. Koza Anadolu Metal | Halk Gayrimenkul vs. Turkish Airlines |
| Koza Altin vs. Qnb Finansbank AS | Koza Altin vs. Turkiye Kalkinma Bankasi | Koza Altin vs. Kocaer Celik Sanayi | Koza Altin vs. Cimentas Izmir Cimento |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |