Correlation Between Ihlas Yayin and Gentas Genel
Can any of the company-specific risk be diversified away by investing in both Ihlas Yayin and Gentas Genel 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 Yayin and Gentas Genel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ihlas Yayin Holding and Gentas Genel Metal, you can compare the effects of market volatilities on Ihlas Yayin and Gentas Genel 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 Yayin with a short position of Gentas Genel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihlas Yayin and Gentas Genel.
Diversification Opportunities for Ihlas Yayin and Gentas Genel
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ihlas and Gentas is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Ihlas Yayin Holding and Gentas Genel Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentas Genel Metal and Ihlas Yayin 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 Yayin Holding are associated (or correlated) with Gentas Genel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentas Genel Metal has no effect on the direction of Ihlas Yayin i.e., Ihlas Yayin and Gentas Genel go up and down completely randomly.
Pair Corralation between Ihlas Yayin and Gentas Genel
Assuming the 90 days trading horizon Ihlas Yayin Holding is expected to under-perform the Gentas Genel. In addition to that, Ihlas Yayin is 2.61 times more volatile than Gentas Genel Metal. It trades about -0.22 of its total potential returns per unit of risk. Gentas Genel Metal is currently generating about 0.46 per unit of volatility. If you would invest 784.00 in Gentas Genel Metal on September 21, 2024 and sell it today you would earn a total of 159.00 from holding Gentas Genel Metal or generate 20.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ihlas Yayin Holding vs. Gentas Genel Metal
Performance |
| Timeline |
| Ihlas Yayin Holding |
| Gentas Genel Metal |
Ihlas Yayin and Gentas Genel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihlas Yayin and Gentas Genel
The main advantage of trading using opposite Ihlas Yayin and Gentas Genel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihlas Yayin position performs unexpectedly, Gentas Genel 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 Gentas Genel will offset losses from the drop in Gentas Genel's long position.| Ihlas Yayin vs. Gentas Genel Metal | Ihlas Yayin vs. Creditwest Faktoring AS | Ihlas Yayin vs. Sekerbank TAS | Ihlas Yayin vs. Qnb Finansbank AS |
| Gentas Genel vs. Ege Endustri ve | Gentas Genel vs. Turkiye Petrol Rafinerileri | Gentas Genel vs. Turkiye Garanti Bankasi | Gentas Genel vs. Ford Otomotiv Sanayi |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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