Correlation Between Koza Altin and QNB Finans
Can any of the company-specific risk be diversified away by investing in both Koza Altin and QNB Finans 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 Altin and QNB Finans into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Koza Altin Isletmeleri and QNB Finans Finansal, you can compare the effects of market volatilities on Koza Altin and QNB Finans 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 Altin with a short position of QNB Finans. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koza Altin and QNB Finans.
Diversification Opportunities for Koza Altin and QNB Finans
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Koza and QNB is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Koza Altin Isletmeleri and QNB Finans Finansal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QNB Finans Finansal and Koza Altin 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 Altin Isletmeleri are associated (or correlated) with QNB Finans. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QNB Finans Finansal has no effect on the direction of Koza Altin i.e., Koza Altin and QNB Finans go up and down completely randomly.
Pair Corralation between Koza Altin and QNB Finans
Assuming the 90 days trading horizon Koza Altin Isletmeleri is expected to generate 0.99 times more return on investment than QNB Finans. However, Koza Altin Isletmeleri is 1.01 times less risky than QNB Finans. It trades about 0.05 of its potential returns per unit of risk. QNB Finans Finansal is currently generating about -0.08 per unit of risk. If you would invest 2,090 in Koza Altin Isletmeleri on August 29, 2024 and sell it today you would earn a total of 42.00 from holding Koza Altin Isletmeleri or generate 2.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Koza Altin Isletmeleri vs. QNB Finans Finansal
Performance |
| Timeline |
| Koza Altin Isletmeleri |
| QNB Finans Finansal |
Koza Altin and QNB Finans Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Koza Altin and QNB Finans
The main advantage of trading using opposite Koza Altin and QNB Finans positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koza Altin position performs unexpectedly, QNB Finans 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 QNB Finans will offset losses from the drop in QNB Finans' long position.| Koza Altin vs. Qnb Finansbank AS | Koza Altin vs. QNB Finans Finansal | Koza Altin vs. Turkiye Kalkinma Bankasi | Koza Altin vs. Kocaer Celik Sanayi |
| QNB Finans vs. Is Finansal Kiralama | QNB Finans vs. Garanti Faktoring AS | QNB Finans vs. Lider Faktoring AS | QNB Finans vs. Seker Finansal Kiralama |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |