Correlation Between Mackolik Internet and Ege Gubre
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Ege Gubre 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 Ege Gubre 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 Ege Gubre Sanayi, you can compare the effects of market volatilities on Mackolik Internet and Ege Gubre 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 Ege Gubre. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Ege Gubre.
Diversification Opportunities for Mackolik Internet and Ege Gubre
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Mackolik and Ege is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Ege Gubre Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ege Gubre Sanayi 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 Ege Gubre. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ege Gubre Sanayi has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Ege Gubre go up and down completely randomly.
Pair Corralation between Mackolik Internet and Ege Gubre
Assuming the 90 days trading horizon Mackolik Internet Hizmetleri is expected to generate 0.95 times more return on investment than Ege Gubre. However, Mackolik Internet Hizmetleri is 1.05 times less risky than Ege Gubre. It trades about 0.83 of its potential returns per unit of risk. Ege Gubre Sanayi is currently generating about 0.13 per unit of risk. If you would invest 7,430 in Mackolik Internet Hizmetleri on September 3, 2024 and sell it today you would earn a total of 3,080 from holding Mackolik Internet Hizmetleri or generate 41.45% 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. Ege Gubre Sanayi
Performance |
| Timeline |
| Mackolik Internet |
| Ege Gubre Sanayi |
Mackolik Internet and Ege Gubre Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Ege Gubre
The main advantage of trading using opposite Mackolik Internet and Ege Gubre positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Ege Gubre 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 Ege Gubre will offset losses from the drop in Ege Gubre'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 |
| Ege Gubre vs. Politeknik Metal Sanayi | Ege Gubre vs. Gentas Genel Metal | Ege Gubre vs. MEGA METAL | Ege Gubre vs. Koza Anadolu 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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