Correlation Between Koza Anadolu and Yesil Yatirim
Can any of the company-specific risk be diversified away by investing in both Koza Anadolu and Yesil 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 Yesil 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 Yesil Yatirim Holding, you can compare the effects of market volatilities on Koza Anadolu and Yesil 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 Yesil Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koza Anadolu and Yesil Yatirim.
Diversification Opportunities for Koza Anadolu and Yesil Yatirim
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Koza and Yesil is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Koza Anadolu Metal and Yesil Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil 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 Yesil Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Yatirim Holding has no effect on the direction of Koza Anadolu i.e., Koza Anadolu and Yesil Yatirim go up and down completely randomly.
Pair Corralation between Koza Anadolu and Yesil Yatirim
Assuming the 90 days trading horizon Koza Anadolu Metal is expected to generate 0.61 times more return on investment than Yesil Yatirim. However, Koza Anadolu Metal is 1.65 times less risky than Yesil Yatirim. It trades about 0.03 of its potential returns per unit of risk. Yesil Yatirim Holding is currently generating about 0.02 per unit of risk. If you would invest 5,705 in Koza Anadolu Metal on September 2, 2024 and sell it today you would earn a total of 1,340 from holding Koza Anadolu Metal or generate 23.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Koza Anadolu Metal vs. Yesil Yatirim Holding
Performance |
| Timeline |
| Koza Anadolu Metal |
| Yesil Yatirim Holding |
Koza Anadolu and Yesil Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Koza Anadolu and Yesil Yatirim
The main advantage of trading using opposite Koza Anadolu and Yesil Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koza Anadolu position performs unexpectedly, Yesil 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 Yesil Yatirim will offset losses from the drop in Yesil 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 |
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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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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