Correlation Between Indeks Bilgisayar and Bera Holding
Can any of the company-specific risk be diversified away by investing in both Indeks Bilgisayar and Bera Holding 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 Indeks Bilgisayar and Bera Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Indeks Bilgisayar Sistemleri and Bera Holding AS, you can compare the effects of market volatilities on Indeks Bilgisayar and Bera Holding 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 Indeks Bilgisayar with a short position of Bera Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indeks Bilgisayar and Bera Holding.
Diversification Opportunities for Indeks Bilgisayar and Bera Holding
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Indeks and Bera is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Indeks Bilgisayar Sistemleri and Bera Holding AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bera Holding AS and Indeks Bilgisayar 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 Indeks Bilgisayar Sistemleri are associated (or correlated) with Bera Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bera Holding AS has no effect on the direction of Indeks Bilgisayar i.e., Indeks Bilgisayar and Bera Holding go up and down completely randomly.
Pair Corralation between Indeks Bilgisayar and Bera Holding
Assuming the 90 days trading horizon Indeks Bilgisayar is expected to generate 1.21 times less return on investment than Bera Holding. But when comparing it to its historical volatility, Indeks Bilgisayar Sistemleri is 1.13 times less risky than Bera Holding. It trades about 0.18 of its potential returns per unit of risk. Bera Holding AS is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 1,300 in Bera Holding AS on August 31, 2024 and sell it today you would earn a total of 140.00 from holding Bera Holding AS or generate 10.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Indeks Bilgisayar Sistemleri vs. Bera Holding AS
Performance |
| Timeline |
| Indeks Bilgisayar |
| Bera Holding AS |
Indeks Bilgisayar and Bera Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indeks Bilgisayar and Bera Holding
The main advantage of trading using opposite Indeks Bilgisayar and Bera Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indeks Bilgisayar position performs unexpectedly, Bera Holding 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 Bera Holding will offset losses from the drop in Bera Holding's long position.| Indeks Bilgisayar vs. BIM Birlesik Magazalar | Indeks Bilgisayar vs. Ford Otomotiv Sanayi | Indeks Bilgisayar vs. Tofas Turk Otomobil | Indeks Bilgisayar vs. Arcelik AS |
| Bera Holding vs. Gubre Fabrikalari TAS | Bera Holding vs. Deva Holding AS | Bera Holding vs. Dogus Otomotiv Servis | Bera Holding vs. Tekfen Holding AS |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |