Correlation Between Koc Holding and E Data
Can any of the company-specific risk be diversified away by investing in both Koc Holding and E Data 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 Koc Holding and E Data into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Koc Holding AS and E Data Teknoloji Pazarlama, you can compare the effects of market volatilities on Koc Holding and E Data 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 Koc Holding with a short position of E Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koc Holding and E Data.
Diversification Opportunities for Koc Holding and E Data
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Koc and EDATA is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Koc Holding AS and E Data Teknoloji Pazarlama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Data Teknoloji and Koc Holding 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 Koc Holding AS are associated (or correlated) with E Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Data Teknoloji has no effect on the direction of Koc Holding i.e., Koc Holding and E Data go up and down completely randomly.
Pair Corralation between Koc Holding and E Data
Assuming the 90 days trading horizon Koc Holding AS is expected to under-perform the E Data. But the stock apears to be less risky and, when comparing its historical volatility, Koc Holding AS is 1.3 times less risky than E Data. The stock trades about -0.11 of its potential returns per unit of risk. The E Data Teknoloji Pazarlama is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 1,355 in E Data Teknoloji Pazarlama on October 20, 2024 and sell it today you would lose (27.00) from holding E Data Teknoloji Pazarlama or give up 1.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Koc Holding AS vs. E Data Teknoloji Pazarlama
Performance |
| Timeline |
| Koc Holding AS |
| E Data Teknoloji |
Koc Holding and E Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Koc Holding and E Data
The main advantage of trading using opposite Koc Holding and E Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koc Holding position performs unexpectedly, E Data 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 E Data will offset losses from the drop in E Data's long position.| Koc Holding vs. Haci Omer Sabanci | Koc Holding vs. Turkiye Sise ve | Koc Holding vs. Turkiye Petrol Rafinerileri | Koc Holding vs. Turkiye Garanti Bankasi |
| E Data vs. CEO Event Medya | E Data vs. Trabzonspor Sportif Yatirim | E Data vs. Sodas Sodyum Sanayi | E Data vs. Akcansa Cimento 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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