Correlation Between Kent Gida and Gedik Yatirim
Can any of the company-specific risk be diversified away by investing in both Kent Gida and Gedik Yatirim 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 Kent Gida and Gedik Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kent Gida Maddeleri and Gedik Yatirim Menkul, you can compare the effects of market volatilities on Kent Gida and Gedik Yatirim 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 Kent Gida with a short position of Gedik Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kent Gida and Gedik Yatirim.
Diversification Opportunities for Kent Gida and Gedik Yatirim
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kent and Gedik is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Kent Gida Maddeleri and Gedik Yatirim Menkul in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gedik Yatirim Menkul and Kent Gida 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 Kent Gida Maddeleri are associated (or correlated) with Gedik Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gedik Yatirim Menkul has no effect on the direction of Kent Gida i.e., Kent Gida and Gedik Yatirim go up and down completely randomly.
Pair Corralation between Kent Gida and Gedik Yatirim
Assuming the 90 days trading horizon Kent Gida Maddeleri is expected to under-perform the Gedik Yatirim. In addition to that, Kent Gida is 1.54 times more volatile than Gedik Yatirim Menkul. It trades about -0.02 of its total potential returns per unit of risk. Gedik Yatirim Menkul is currently generating about 0.07 per unit of volatility. If you would invest 695.00 in Gedik Yatirim Menkul on August 28, 2024 and sell it today you would earn a total of 37.00 from holding Gedik Yatirim Menkul or generate 5.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kent Gida Maddeleri vs. Gedik Yatirim Menkul
Performance |
| Timeline |
| Kent Gida Maddeleri |
| Gedik Yatirim Menkul |
Kent Gida and Gedik Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kent Gida and Gedik Yatirim
The main advantage of trading using opposite Kent Gida and Gedik Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kent Gida position performs unexpectedly, Gedik Yatirim 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 Gedik Yatirim will offset losses from the drop in Gedik Yatirim's long position.| Kent Gida vs. Gentas Genel Metal | Kent Gida vs. Politeknik Metal Sanayi | Kent Gida vs. Akbank TAS | Kent Gida vs. Cuhadaroglu Metal Sanayi |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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