Correlation Between Kent Gida and Hedef Girisim
Can any of the company-specific risk be diversified away by investing in both Kent Gida and Hedef Girisim 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 Hedef Girisim 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 Hedef Girisim Sermayesi, you can compare the effects of market volatilities on Kent Gida and Hedef Girisim 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 Hedef Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kent Gida and Hedef Girisim.
Diversification Opportunities for Kent Gida and Hedef Girisim
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kent and Hedef is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Kent Gida Maddeleri and Hedef Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hedef Girisim Sermayesi 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 Hedef Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hedef Girisim Sermayesi has no effect on the direction of Kent Gida i.e., Kent Gida and Hedef Girisim go up and down completely randomly.
Pair Corralation between Kent Gida and Hedef Girisim
Assuming the 90 days trading horizon Kent Gida Maddeleri is expected to generate 1.21 times more return on investment than Hedef Girisim. However, Kent Gida is 1.21 times more volatile than Hedef Girisim Sermayesi. It trades about 0.07 of its potential returns per unit of risk. Hedef Girisim Sermayesi is currently generating about 0.0 per unit of risk. If you would invest 23,700 in Kent Gida Maddeleri on September 2, 2024 and sell it today you would earn a total of 57,300 from holding Kent Gida Maddeleri or generate 241.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kent Gida Maddeleri vs. Hedef Girisim Sermayesi
Performance |
| Timeline |
| Kent Gida Maddeleri |
| Hedef Girisim Sermayesi |
Kent Gida and Hedef Girisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kent Gida and Hedef Girisim
The main advantage of trading using opposite Kent Gida and Hedef Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kent Gida position performs unexpectedly, Hedef Girisim 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 Hedef Girisim will offset losses from the drop in Hedef Girisim's long position.| Kent Gida vs. Akbank TAS | Kent Gida vs. Bms Birlesik Metal | Kent Gida vs. Turkiye Kalkinma Bankasi | Kent Gida vs. Koza Anadolu Metal |
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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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