Correlation Between Halk Gayrimenkul and Trabzon Liman
Can any of the company-specific risk be diversified away by investing in both Halk Gayrimenkul and Trabzon Liman 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 Trabzon Liman 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 Trabzon Liman Isletmeciligi, you can compare the effects of market volatilities on Halk Gayrimenkul and Trabzon Liman 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 Trabzon Liman. Check out your portfolio center. Please also check ongoing floating volatility patterns of Halk Gayrimenkul and Trabzon Liman.
Diversification Opportunities for Halk Gayrimenkul and Trabzon Liman
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Halk and Trabzon is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Halk Gayrimenkul Yatirim and Trabzon Liman Isletmeciligi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trabzon Liman Isletm 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 Trabzon Liman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trabzon Liman Isletm has no effect on the direction of Halk Gayrimenkul i.e., Halk Gayrimenkul and Trabzon Liman go up and down completely randomly.
Pair Corralation between Halk Gayrimenkul and Trabzon Liman
Assuming the 90 days trading horizon Halk Gayrimenkul Yatirim is expected to generate 0.76 times more return on investment than Trabzon Liman. However, Halk Gayrimenkul Yatirim is 1.32 times less risky than Trabzon Liman. It trades about 0.21 of its potential returns per unit of risk. Trabzon Liman Isletmeciligi is currently generating about 0.07 per unit of risk. If you would invest 233.00 in Halk Gayrimenkul Yatirim on August 31, 2024 and sell it today you would earn a total of 26.00 from holding Halk Gayrimenkul Yatirim or generate 11.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Halk Gayrimenkul Yatirim vs. Trabzon Liman Isletmeciligi
Performance |
| Timeline |
| Halk Gayrimenkul Yatirim |
| Trabzon Liman Isletm |
Halk Gayrimenkul and Trabzon Liman Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Halk Gayrimenkul and Trabzon Liman
The main advantage of trading using opposite Halk Gayrimenkul and Trabzon Liman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Halk Gayrimenkul position performs unexpectedly, Trabzon Liman 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 Trabzon Liman will offset losses from the drop in Trabzon Liman's long position.| Halk Gayrimenkul vs. Koza Anadolu Metal | Halk Gayrimenkul vs. ICBC Turkey Bank | Halk Gayrimenkul vs. Datagate Bilgisayar Malzemeleri | Halk Gayrimenkul vs. Politeknik Metal Sanayi |
| Trabzon Liman vs. Bms Birlesik Metal | Trabzon Liman vs. Akbank TAS | Trabzon Liman vs. Cuhadaroglu Metal Sanayi | Trabzon Liman vs. Koza Anadolu 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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