Correlation Between Halk Gayrimenkul and Sodas Sodyum
Can any of the company-specific risk be diversified away by investing in both Halk Gayrimenkul and Sodas Sodyum 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 Sodas Sodyum 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 Sodas Sodyum Sanayi, you can compare the effects of market volatilities on Halk Gayrimenkul and Sodas Sodyum 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 Sodas Sodyum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Halk Gayrimenkul and Sodas Sodyum.
Diversification Opportunities for Halk Gayrimenkul and Sodas Sodyum
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Halk and Sodas is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Halk Gayrimenkul Yatirim and Sodas Sodyum Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sodas Sodyum 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 Sodas Sodyum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sodas Sodyum Sanayi has no effect on the direction of Halk Gayrimenkul i.e., Halk Gayrimenkul and Sodas Sodyum go up and down completely randomly.
Pair Corralation between Halk Gayrimenkul and Sodas Sodyum
Assuming the 90 days trading horizon Halk Gayrimenkul Yatirim is expected to generate 1.27 times more return on investment than Sodas Sodyum. However, Halk Gayrimenkul is 1.27 times more volatile than Sodas Sodyum Sanayi. It trades about 0.27 of its potential returns per unit of risk. Sodas Sodyum Sanayi is currently generating about -0.16 per unit of risk. If you would invest 230.00 in Halk Gayrimenkul Yatirim on September 1, 2024 and sell it today you would earn a total of 35.00 from holding Halk Gayrimenkul Yatirim or generate 15.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Halk Gayrimenkul Yatirim vs. Sodas Sodyum Sanayi
Performance |
| Timeline |
| Halk Gayrimenkul Yatirim |
| Sodas Sodyum Sanayi |
Halk Gayrimenkul and Sodas Sodyum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Halk Gayrimenkul and Sodas Sodyum
The main advantage of trading using opposite Halk Gayrimenkul and Sodas Sodyum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Halk Gayrimenkul position performs unexpectedly, Sodas Sodyum 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 Sodas Sodyum will offset losses from the drop in Sodas Sodyum's long position.| Halk Gayrimenkul vs. Akbank TAS | Halk Gayrimenkul vs. Turkiye Garanti Bankasi | Halk Gayrimenkul vs. Yapi ve Kredi | Halk Gayrimenkul vs. Turkiye Petrol Rafinerileri |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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