Correlation Between Kuyas Yatirim and Hedef Girisim
Can any of the company-specific risk be diversified away by investing in both Kuyas Yatirim and Hedef Girisim 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 Kuyas Yatirim and Hedef Girisim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kuyas Yatirim AS and Hedef Girisim Sermayesi, you can compare the effects of market volatilities on Kuyas Yatirim and Hedef Girisim 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 Kuyas Yatirim with a short position of Hedef Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kuyas Yatirim and Hedef Girisim.
Diversification Opportunities for Kuyas Yatirim and Hedef Girisim
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kuyas and Hedef is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Kuyas Yatirim AS and Hedef Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hedef Girisim Sermayesi and Kuyas Yatirim 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 Kuyas Yatirim AS are associated (or correlated) with Hedef Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hedef Girisim Sermayesi has no effect on the direction of Kuyas Yatirim i.e., Kuyas Yatirim and Hedef Girisim go up and down completely randomly.
Pair Corralation between Kuyas Yatirim and Hedef Girisim
Assuming the 90 days trading horizon Kuyas Yatirim is expected to generate 1.76 times less return on investment than Hedef Girisim. But when comparing it to its historical volatility, Kuyas Yatirim AS is 1.02 times less risky than Hedef Girisim. It trades about 0.13 of its potential returns per unit of risk. Hedef Girisim Sermayesi is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 143.00 in Hedef Girisim Sermayesi on September 12, 2024 and sell it today you would earn a total of 18.00 from holding Hedef Girisim Sermayesi or generate 12.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kuyas Yatirim AS vs. Hedef Girisim Sermayesi
Performance |
| Timeline |
| Kuyas Yatirim AS |
| Hedef Girisim Sermayesi |
Kuyas Yatirim and Hedef Girisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kuyas Yatirim and Hedef Girisim
The main advantage of trading using opposite Kuyas Yatirim and Hedef Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kuyas Yatirim position performs unexpectedly, Hedef Girisim 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 Hedef Girisim will offset losses from the drop in Hedef Girisim's long position.| Kuyas Yatirim vs. Turkiye Garanti Bankasi | Kuyas Yatirim vs. Turkiye Is Bankasi | Kuyas Yatirim vs. Turkiye Is Bankasi | Kuyas Yatirim vs. Akbank TAS |
| Hedef Girisim vs. Pamel Yenilenebilir Elektrik | Hedef Girisim vs. Bosch Fren Sistemleri | Hedef Girisim vs. Marka Yatirim Holding | Hedef Girisim vs. Dogus Gayrimenkul Yatirim |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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