Correlation Between Kristal Kola and AG Anadolu
Can any of the company-specific risk be diversified away by investing in both Kristal Kola and AG Anadolu 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 Kristal Kola and AG Anadolu into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kristal Kola ve and AG Anadolu Group, you can compare the effects of market volatilities on Kristal Kola and AG Anadolu 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 Kristal Kola with a short position of AG Anadolu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kristal Kola and AG Anadolu.
Diversification Opportunities for Kristal Kola and AG Anadolu
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kristal and AGHOL is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Kristal Kola ve and AG Anadolu Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AG Anadolu Group and Kristal Kola 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 Kristal Kola ve are associated (or correlated) with AG Anadolu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AG Anadolu Group has no effect on the direction of Kristal Kola i.e., Kristal Kola and AG Anadolu go up and down completely randomly.
Pair Corralation between Kristal Kola and AG Anadolu
Assuming the 90 days trading horizon Kristal Kola is expected to generate 16.82 times less return on investment than AG Anadolu. In addition to that, Kristal Kola is 1.4 times more volatile than AG Anadolu Group. It trades about 0.0 of its total potential returns per unit of risk. AG Anadolu Group is currently generating about 0.1 per unit of volatility. If you would invest 10,073 in AG Anadolu Group on August 30, 2024 and sell it today you would earn a total of 23,452 from holding AG Anadolu Group or generate 232.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kristal Kola ve vs. AG Anadolu Group
Performance |
| Timeline |
| Kristal Kola ve |
| AG Anadolu Group |
Kristal Kola and AG Anadolu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kristal Kola and AG Anadolu
The main advantage of trading using opposite Kristal Kola and AG Anadolu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kristal Kola position performs unexpectedly, AG Anadolu 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 AG Anadolu will offset losses from the drop in AG Anadolu's long position.| Kristal Kola vs. BIM Birlesik Magazalar | Kristal Kola vs. Turk Telekomunikasyon AS | Kristal Kola vs. Tofas Turk Otomobil | Kristal Kola vs. Turkcell Iletisim Hizmetleri |
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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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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