Correlation Between Koza Anadolu and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both Koza Anadolu and Turkiye Is 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 Turkiye Is 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 Turkiye Is Bankasi, you can compare the effects of market volatilities on Koza Anadolu and Turkiye Is 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 Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koza Anadolu and Turkiye Is.
Diversification Opportunities for Koza Anadolu and Turkiye Is
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Koza and Turkiye is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Koza Anadolu Metal and Turkiye Is Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Is Bankasi 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 Turkiye Is. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Is Bankasi has no effect on the direction of Koza Anadolu i.e., Koza Anadolu and Turkiye Is go up and down completely randomly.
Pair Corralation between Koza Anadolu and Turkiye Is
Assuming the 90 days trading horizon Koza Anadolu Metal is expected to generate 0.68 times more return on investment than Turkiye Is. However, Koza Anadolu Metal is 1.46 times less risky than Turkiye Is. It trades about 0.06 of its potential returns per unit of risk. Turkiye Is Bankasi is currently generating about 0.03 per unit of risk. If you would invest 5,020 in Koza Anadolu Metal on November 3, 2024 and sell it today you would earn a total of 1,930 from holding Koza Anadolu Metal or generate 38.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.19% |
| Values | Daily Returns |
Koza Anadolu Metal vs. Turkiye Is Bankasi
Performance |
| Timeline |
| Koza Anadolu Metal |
| Turkiye Is Bankasi |
Koza Anadolu and Turkiye Is Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Koza Anadolu and Turkiye Is
The main advantage of trading using opposite Koza Anadolu and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koza Anadolu position performs unexpectedly, Turkiye Is 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 Turkiye Is will offset losses from the drop in Turkiye Is' long position.| Koza Anadolu vs. Koza Altin Isletmeleri | Koza Anadolu vs. Petkim Petrokimya Holding | Koza Anadolu vs. Kardemir Karabuk Demir | Koza Anadolu vs. Tekfen Holding AS |
| Turkiye Is vs. Cuhadaroglu Metal Sanayi | Turkiye Is vs. MEGA METAL | Turkiye Is vs. E Data Teknoloji Pazarlama | Turkiye Is vs. Politeknik Metal 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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