Correlation Between Mackolik Internet and Dogus Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Dogus Gayrimenkul 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 Dogus Gayrimenkul 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 Dogus Gayrimenkul Yatirim, you can compare the effects of market volatilities on Mackolik Internet and Dogus Gayrimenkul 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 Dogus Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Dogus Gayrimenkul.
Diversification Opportunities for Mackolik Internet and Dogus Gayrimenkul
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mackolik and Dogus is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Dogus Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dogus Gayrimenkul Yatirim 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 Dogus Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dogus Gayrimenkul Yatirim has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Dogus Gayrimenkul go up and down completely randomly.
Pair Corralation between Mackolik Internet and Dogus Gayrimenkul
Assuming the 90 days trading horizon Mackolik Internet is expected to generate 1.14 times less return on investment than Dogus Gayrimenkul. But when comparing it to its historical volatility, Mackolik Internet Hizmetleri is 1.39 times less risky than Dogus Gayrimenkul. It trades about 0.48 of its potential returns per unit of risk. Dogus Gayrimenkul Yatirim is currently generating about 0.39 of returns per unit of risk over similar time horizon. If you would invest 3,278 in Dogus Gayrimenkul Yatirim on August 30, 2024 and sell it today you would earn a total of 898.00 from holding Dogus Gayrimenkul Yatirim or generate 27.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. Dogus Gayrimenkul Yatirim
Performance |
| Timeline |
| Mackolik Internet |
| Dogus Gayrimenkul Yatirim |
Mackolik Internet and Dogus Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Dogus Gayrimenkul
The main advantage of trading using opposite Mackolik Internet and Dogus Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Dogus Gayrimenkul 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 Dogus Gayrimenkul will offset losses from the drop in Dogus Gayrimenkul's long position.| Mackolik Internet vs. Politeknik Metal Sanayi | Mackolik Internet vs. Koza Anadolu Metal | Mackolik Internet vs. Cuhadaroglu Metal 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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