Correlation Between Mackolik Internet and Bosch Fren
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Bosch Fren 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 Bosch Fren 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 Bosch Fren Sistemleri, you can compare the effects of market volatilities on Mackolik Internet and Bosch Fren 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 Bosch Fren. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Bosch Fren.
Diversification Opportunities for Mackolik Internet and Bosch Fren
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Mackolik and Bosch is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Bosch Fren Sistemleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosch Fren Sistemleri 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 Bosch Fren. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosch Fren Sistemleri has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Bosch Fren go up and down completely randomly.
Pair Corralation between Mackolik Internet and Bosch Fren
Assuming the 90 days trading horizon Mackolik Internet is expected to generate 1.33 times less return on investment than Bosch Fren. But when comparing it to its historical volatility, Mackolik Internet Hizmetleri is 1.24 times less risky than Bosch Fren. It trades about 0.04 of its potential returns per unit of risk. Bosch Fren Sistemleri is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 53,744 in Bosch Fren Sistemleri on September 12, 2024 and sell it today you would earn a total of 15,406 from holding Bosch Fren Sistemleri or generate 28.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. Bosch Fren Sistemleri
Performance |
| Timeline |
| Mackolik Internet |
| Bosch Fren Sistemleri |
Mackolik Internet and Bosch Fren Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Bosch Fren
The main advantage of trading using opposite Mackolik Internet and Bosch Fren positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Bosch Fren 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 Bosch Fren will offset losses from the drop in Bosch Fren's long position.| Mackolik Internet vs. Pamel Yenilenebilir Elektrik | Mackolik Internet vs. Dogus Gayrimenkul Yatirim | Mackolik Internet vs. IZDEMIR Enerji Elektrik | Mackolik Internet vs. Logo Yazilim Sanayi |
| Bosch Fren vs. Koza Anadolu Metal | Bosch Fren vs. Cuhadaroglu Metal Sanayi | Bosch Fren vs. Mackolik Internet Hizmetleri | Bosch Fren vs. MEGA 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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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