Correlation Between Ihlas Gazetecilik and Kuyas Yatirim
Can any of the company-specific risk be diversified away by investing in both Ihlas Gazetecilik and Kuyas Yatirim 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 Ihlas Gazetecilik and Kuyas Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ihlas Gazetecilik AS and Kuyas Yatirim AS, you can compare the effects of market volatilities on Ihlas Gazetecilik and Kuyas Yatirim 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 Ihlas Gazetecilik with a short position of Kuyas Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihlas Gazetecilik and Kuyas Yatirim.
Diversification Opportunities for Ihlas Gazetecilik and Kuyas Yatirim
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Ihlas and Kuyas is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Ihlas Gazetecilik AS and Kuyas Yatirim AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuyas Yatirim AS and Ihlas Gazetecilik 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 Ihlas Gazetecilik AS are associated (or correlated) with Kuyas Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuyas Yatirim AS has no effect on the direction of Ihlas Gazetecilik i.e., Ihlas Gazetecilik and Kuyas Yatirim go up and down completely randomly.
Pair Corralation between Ihlas Gazetecilik and Kuyas Yatirim
Assuming the 90 days trading horizon Ihlas Gazetecilik AS is expected to generate 2.61 times more return on investment than Kuyas Yatirim. However, Ihlas Gazetecilik is 2.61 times more volatile than Kuyas Yatirim AS. It trades about 0.43 of its potential returns per unit of risk. Kuyas Yatirim AS is currently generating about -0.08 per unit of risk. If you would invest 113.00 in Ihlas Gazetecilik AS on September 3, 2024 and sell it today you would earn a total of 72.00 from holding Ihlas Gazetecilik AS or generate 63.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ihlas Gazetecilik AS vs. Kuyas Yatirim AS
Performance |
| Timeline |
| Ihlas Gazetecilik |
| Kuyas Yatirim AS |
Ihlas Gazetecilik and Kuyas Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihlas Gazetecilik and Kuyas Yatirim
The main advantage of trading using opposite Ihlas Gazetecilik and Kuyas Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihlas Gazetecilik position performs unexpectedly, Kuyas Yatirim 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 Kuyas Yatirim will offset losses from the drop in Kuyas Yatirim's long position.| Ihlas Gazetecilik vs. Qnb Finansbank AS | Ihlas Gazetecilik vs. Bms Birlesik Metal | Ihlas Gazetecilik vs. Sekerbank TAS | Ihlas Gazetecilik vs. Gentas Genel 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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