Correlation Between Lider Faktoring and Creditwest Faktoring
Can any of the company-specific risk be diversified away by investing in both Lider Faktoring and Creditwest Faktoring 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 Lider Faktoring and Creditwest Faktoring into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lider Faktoring AS and Creditwest Faktoring AS, you can compare the effects of market volatilities on Lider Faktoring and Creditwest Faktoring 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 Lider Faktoring with a short position of Creditwest Faktoring. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lider Faktoring and Creditwest Faktoring.
Diversification Opportunities for Lider Faktoring and Creditwest Faktoring
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lider and Creditwest is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lider Faktoring AS and Creditwest Faktoring AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Creditwest Faktoring and Lider Faktoring 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 Lider Faktoring AS are associated (or correlated) with Creditwest Faktoring. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Creditwest Faktoring has no effect on the direction of Lider Faktoring i.e., Lider Faktoring and Creditwest Faktoring go up and down completely randomly.
Pair Corralation between Lider Faktoring and Creditwest Faktoring
If you would invest 580.00 in Creditwest Faktoring AS on August 29, 2024 and sell it today you would earn a total of 241.00 from holding Creditwest Faktoring AS or generate 41.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lider Faktoring AS vs. Creditwest Faktoring AS
Performance |
| Timeline |
| Lider Faktoring AS |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Creditwest Faktoring |
Lider Faktoring and Creditwest Faktoring Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lider Faktoring and Creditwest Faktoring
The main advantage of trading using opposite Lider Faktoring and Creditwest Faktoring positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lider Faktoring position performs unexpectedly, Creditwest Faktoring 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 Creditwest Faktoring will offset losses from the drop in Creditwest Faktoring's long position.| Lider Faktoring vs. Silverline Endustri ve | Lider Faktoring vs. Gentas Genel Metal | Lider Faktoring vs. Koza Anadolu Metal | Lider Faktoring vs. MEGA METAL |
| Creditwest Faktoring vs. MEGA METAL | Creditwest Faktoring vs. Cuhadaroglu Metal Sanayi | Creditwest Faktoring vs. Akbank TAS | Creditwest Faktoring vs. Gentas Genel Metal |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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