Correlation Between Is Finansal and Ihlas Yayin
Can any of the company-specific risk be diversified away by investing in both Is Finansal and Ihlas Yayin 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 Is Finansal and Ihlas Yayin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Is Finansal Kiralama and Ihlas Yayin Holding, you can compare the effects of market volatilities on Is Finansal and Ihlas Yayin 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 Is Finansal with a short position of Ihlas Yayin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Is Finansal and Ihlas Yayin.
Diversification Opportunities for Is Finansal and Ihlas Yayin
-0.91 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ISFIN and Ihlas is -0.91. Overlapping area represents the amount of risk that can be diversified away by holding Is Finansal Kiralama and Ihlas Yayin Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ihlas Yayin Holding and Is Finansal 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 Is Finansal Kiralama are associated (or correlated) with Ihlas Yayin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ihlas Yayin Holding has no effect on the direction of Is Finansal i.e., Is Finansal and Ihlas Yayin go up and down completely randomly.
Pair Corralation between Is Finansal and Ihlas Yayin
Assuming the 90 days trading horizon Is Finansal is expected to generate 1.48 times less return on investment than Ihlas Yayin. But when comparing it to its historical volatility, Is Finansal Kiralama is 1.78 times less risky than Ihlas Yayin. It trades about 0.04 of its potential returns per unit of risk. Ihlas Yayin Holding is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 268.00 in Ihlas Yayin Holding on November 7, 2024 and sell it today you would earn a total of 35.00 from holding Ihlas Yayin Holding or generate 13.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Is Finansal Kiralama vs. Ihlas Yayin Holding
Performance |
| Timeline |
| Is Finansal Kiralama |
| Ihlas Yayin Holding |
Is Finansal and Ihlas Yayin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Is Finansal and Ihlas Yayin
The main advantage of trading using opposite Is Finansal and Ihlas Yayin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Is Finansal position performs unexpectedly, Ihlas Yayin 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 Ihlas Yayin will offset losses from the drop in Ihlas Yayin's long position.| Is Finansal vs. ODAS Elektrik Uretim | Is Finansal vs. Qua Granite Hayal | Is Finansal vs. Hektas Ticaret TAS | Is Finansal vs. Aksa Enerji Uretim |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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