Correlation Between Koza Anadolu and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Koza Anadolu and Guler 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 Koza Anadolu and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Koza Anadolu Metal and Guler Yatirim Holding, you can compare the effects of market volatilities on Koza Anadolu and Guler 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 Koza Anadolu with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koza Anadolu and Guler Yatirim.
Diversification Opportunities for Koza Anadolu and Guler Yatirim
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Koza and Guler is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Koza Anadolu Metal and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding and Koza Anadolu 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 Koza Anadolu Metal are associated (or correlated) with Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of Koza Anadolu i.e., Koza Anadolu and Guler Yatirim go up and down completely randomly.
Pair Corralation between Koza Anadolu and Guler Yatirim
Assuming the 90 days trading horizon Koza Anadolu Metal is expected to generate 1.0 times more return on investment than Guler Yatirim. However, Koza Anadolu Metal is 1.0 times less risky than Guler Yatirim. It trades about 0.06 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.03 per unit of risk. If you would invest 5,230 in Koza Anadolu Metal on September 2, 2024 and sell it today you would earn a total of 1,815 from holding Koza Anadolu Metal or generate 34.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Koza Anadolu Metal vs. Guler Yatirim Holding
Performance |
| Timeline |
| Koza Anadolu Metal |
| Guler Yatirim Holding |
Koza Anadolu and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Koza Anadolu and Guler Yatirim
The main advantage of trading using opposite Koza Anadolu and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koza Anadolu position performs unexpectedly, Guler 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| Koza Anadolu vs. Trend Gayrimenkul Yatirim | Koza Anadolu vs. Trabzon Liman Isletmeciligi | Koza Anadolu vs. Halk Gayrimenkul Yatirim | Koza Anadolu vs. Inveo Yatirim Holding |
| Guler Yatirim vs. Koza Anadolu Metal | Guler Yatirim vs. Silverline Endustri ve | Guler Yatirim vs. Bms Birlesik Metal | Guler Yatirim vs. Datagate Bilgisayar Malzemeleri |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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