Correlation Between Mackolik Internet and Dofer Yapi
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Dofer Yapi 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 Dofer Yapi 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 Dofer Yapi Malzemeleri, you can compare the effects of market volatilities on Mackolik Internet and Dofer Yapi 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 Dofer Yapi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Dofer Yapi.
Diversification Opportunities for Mackolik Internet and Dofer Yapi
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mackolik and Dofer is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Dofer Yapi Malzemeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dofer Yapi Malzemeleri 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 Dofer Yapi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dofer Yapi Malzemeleri has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Dofer Yapi go up and down completely randomly.
Pair Corralation between Mackolik Internet and Dofer Yapi
Assuming the 90 days trading horizon Mackolik Internet Hizmetleri is expected to generate 0.61 times more return on investment than Dofer Yapi. However, Mackolik Internet Hizmetleri is 1.64 times less risky than Dofer Yapi. It trades about 0.77 of its potential returns per unit of risk. Dofer Yapi Malzemeleri is currently generating about 0.21 per unit of risk. If you would invest 7,430 in Mackolik Internet Hizmetleri on September 4, 2024 and sell it today you would earn a total of 3,020 from holding Mackolik Internet Hizmetleri or generate 40.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. Dofer Yapi Malzemeleri
Performance |
| Timeline |
| Mackolik Internet |
| Dofer Yapi Malzemeleri |
Mackolik Internet and Dofer Yapi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Dofer Yapi
The main advantage of trading using opposite Mackolik Internet and Dofer Yapi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Dofer Yapi 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 Dofer Yapi will offset losses from the drop in Dofer Yapi's long position.| Mackolik Internet vs. Pamel Yenilenebilir Elektrik | Mackolik Internet vs. Brisa Bridgestone Sabanci | Mackolik Internet vs. Dogus Gayrimenkul Yatirim | Mackolik Internet vs. IZDEMIR Enerji Elektrik |
| Dofer Yapi vs. Gentas Genel Metal | Dofer Yapi vs. Mackolik Internet Hizmetleri | Dofer Yapi vs. Koza Anadolu Metal | Dofer Yapi vs. Sekerbank 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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