Correlation Between Is Yatirim and Aksa Akrilik
Can any of the company-specific risk be diversified away by investing in both Is Yatirim and Aksa Akrilik 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 Yatirim and Aksa Akrilik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Is Yatirim Menkul and Aksa Akrilik Kimya, you can compare the effects of market volatilities on Is Yatirim and Aksa Akrilik 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 Yatirim with a short position of Aksa Akrilik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Is Yatirim and Aksa Akrilik.
Diversification Opportunities for Is Yatirim and Aksa Akrilik
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ISMEN and Aksa is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Is Yatirim Menkul and Aksa Akrilik Kimya in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aksa Akrilik Kimya and Is Yatirim 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 Yatirim Menkul are associated (or correlated) with Aksa Akrilik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aksa Akrilik Kimya has no effect on the direction of Is Yatirim i.e., Is Yatirim and Aksa Akrilik go up and down completely randomly.
Pair Corralation between Is Yatirim and Aksa Akrilik
Assuming the 90 days trading horizon Is Yatirim Menkul is expected to generate 1.02 times more return on investment than Aksa Akrilik. However, Is Yatirim is 1.02 times more volatile than Aksa Akrilik Kimya. It trades about 0.03 of its potential returns per unit of risk. Aksa Akrilik Kimya is currently generating about 0.01 per unit of risk. If you would invest 3,874 in Is Yatirim Menkul on September 3, 2024 and sell it today you would earn a total of 252.00 from holding Is Yatirim Menkul or generate 6.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Is Yatirim Menkul vs. Aksa Akrilik Kimya
Performance |
| Timeline |
| Is Yatirim Menkul |
| Aksa Akrilik Kimya |
Is Yatirim and Aksa Akrilik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Is Yatirim and Aksa Akrilik
The main advantage of trading using opposite Is Yatirim and Aksa Akrilik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Is Yatirim position performs unexpectedly, Aksa Akrilik 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 Aksa Akrilik will offset losses from the drop in Aksa Akrilik's long position.| Is Yatirim vs. Desa Deri Sanayi | Is Yatirim vs. Tumosan Motor ve | Is Yatirim vs. Ihlas Gazetecilik AS | Is Yatirim vs. Kuyas Yatirim AS |
| Aksa Akrilik vs. Koc Holding AS | Aksa Akrilik vs. Eregli Demir ve | Aksa Akrilik vs. Turkiye Sise ve | Aksa Akrilik vs. Turkcell Iletisim Hizmetleri |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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