Correlation Between Marmaris Altinyunus and Gentas Genel
Can any of the company-specific risk be diversified away by investing in both Marmaris Altinyunus and Gentas Genel 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 Marmaris Altinyunus and Gentas Genel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marmaris Altinyunus Turistik and Gentas Genel Metal, you can compare the effects of market volatilities on Marmaris Altinyunus and Gentas Genel 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 Marmaris Altinyunus with a short position of Gentas Genel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marmaris Altinyunus and Gentas Genel.
Diversification Opportunities for Marmaris Altinyunus and Gentas Genel
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Marmaris and Gentas is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Marmaris Altinyunus Turistik and Gentas Genel Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentas Genel Metal and Marmaris Altinyunus 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 Marmaris Altinyunus Turistik are associated (or correlated) with Gentas Genel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentas Genel Metal has no effect on the direction of Marmaris Altinyunus i.e., Marmaris Altinyunus and Gentas Genel go up and down completely randomly.
Pair Corralation between Marmaris Altinyunus and Gentas Genel
Assuming the 90 days trading horizon Marmaris Altinyunus Turistik is expected to generate 1.2 times more return on investment than Gentas Genel. However, Marmaris Altinyunus is 1.2 times more volatile than Gentas Genel Metal. It trades about 0.06 of its potential returns per unit of risk. Gentas Genel Metal is currently generating about 0.05 per unit of risk. If you would invest 36,410 in Marmaris Altinyunus Turistik on September 4, 2024 and sell it today you would earn a total of 46,190 from holding Marmaris Altinyunus Turistik or generate 126.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marmaris Altinyunus Turistik vs. Gentas Genel Metal
Performance |
| Timeline |
| Marmaris Altinyunus |
| Gentas Genel Metal |
Marmaris Altinyunus and Gentas Genel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marmaris Altinyunus and Gentas Genel
The main advantage of trading using opposite Marmaris Altinyunus and Gentas Genel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marmaris Altinyunus position performs unexpectedly, Gentas Genel 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 Gentas Genel will offset losses from the drop in Gentas Genel's long position.| Marmaris Altinyunus vs. Cuhadaroglu Metal Sanayi | Marmaris Altinyunus vs. Koza Anadolu Metal | Marmaris Altinyunus vs. Sekerbank TAS | Marmaris Altinyunus vs. MEGA METAL |
| Gentas Genel vs. Turkiye Petrol Rafinerileri | Gentas Genel vs. Arcelik AS | Gentas Genel vs. Turkiye Garanti Bankasi | Gentas Genel vs. Akbank TAS |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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