Correlation Between Mackolik Internet and E Data
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and E Data 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 E Data 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 E Data Teknoloji Pazarlama, you can compare the effects of market volatilities on Mackolik Internet and E Data 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 E Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and E Data.
Diversification Opportunities for Mackolik Internet and E Data
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Mackolik and EDATA is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and E Data Teknoloji Pazarlama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Data Teknoloji 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 E Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Data Teknoloji has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and E Data go up and down completely randomly.
Pair Corralation between Mackolik Internet and E Data
Assuming the 90 days trading horizon Mackolik Internet Hizmetleri is expected to generate 0.99 times more return on investment than E Data. However, Mackolik Internet Hizmetleri is 1.01 times less risky than E Data. It trades about 0.14 of its potential returns per unit of risk. E Data Teknoloji Pazarlama is currently generating about -0.14 per unit of risk. If you would invest 8,134 in Mackolik Internet Hizmetleri on November 2, 2024 and sell it today you would earn a total of 2,966 from holding Mackolik Internet Hizmetleri or generate 36.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. E Data Teknoloji Pazarlama
Performance |
| Timeline |
| Mackolik Internet |
| E Data Teknoloji |
Mackolik Internet and E Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and E Data
The main advantage of trading using opposite Mackolik Internet and E Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, E Data 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 E Data will offset losses from the drop in E Data's long position.| Mackolik Internet vs. Pamel Yenilenebilir Elektrik | Mackolik Internet vs. Platform Turizm Tasimacilik | Mackolik Internet vs. Brisa Bridgestone Sabanci | Mackolik Internet vs. RONESANS GAYRIMENKUL YAT |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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