Correlation Between Mackolik Internet and Akbank TAS
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Akbank TAS 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 Mackolik Internet and Akbank TAS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mackolik Internet Hizmetleri and Akbank TAS, you can compare the effects of market volatilities on Mackolik Internet and Akbank TAS 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 Mackolik Internet with a short position of Akbank TAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Akbank TAS.
Diversification Opportunities for Mackolik Internet and Akbank TAS
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Mackolik and Akbank is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Akbank TAS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akbank TAS and Mackolik Internet 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 Mackolik Internet Hizmetleri are associated (or correlated) with Akbank TAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akbank TAS has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Akbank TAS go up and down completely randomly.
Pair Corralation between Mackolik Internet and Akbank TAS
Assuming the 90 days trading horizon Mackolik Internet is expected to generate 1.03 times less return on investment than Akbank TAS. In addition to that, Mackolik Internet is 1.08 times more volatile than Akbank TAS. It trades about 0.09 of its total potential returns per unit of risk. Akbank TAS is currently generating about 0.1 per unit of volatility. If you would invest 1,546 in Akbank TAS on January 25, 2025 and sell it today you would earn a total of 3,804 from holding Akbank TAS or generate 246.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. Akbank TAS
Performance |
| Timeline |
| Mackolik Internet |
| Akbank TAS |
Mackolik Internet and Akbank TAS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Akbank TAS
The main advantage of trading using opposite Mackolik Internet and Akbank TAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Akbank TAS 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 Akbank TAS will offset losses from the drop in Akbank TAS's long position.| Mackolik Internet vs. Silverline Endustri ve | Mackolik Internet vs. Koza Anadolu Metal | Mackolik Internet vs. Gentas Genel Metal | Mackolik Internet vs. Akcansa Cimento Sanayi |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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