Correlation Between Mackolik Internet and Qnb Finansbank
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Qnb Finansbank 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 Qnb Finansbank 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 Qnb Finansbank AS, you can compare the effects of market volatilities on Mackolik Internet and Qnb Finansbank 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 Qnb Finansbank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Qnb Finansbank.
Diversification Opportunities for Mackolik Internet and Qnb Finansbank
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Mackolik and Qnb is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Qnb Finansbank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qnb Finansbank AS 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 Qnb Finansbank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qnb Finansbank AS has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Qnb Finansbank go up and down completely randomly.
Pair Corralation between Mackolik Internet and Qnb Finansbank
Assuming the 90 days trading horizon Mackolik Internet Hizmetleri is expected to generate 0.7 times more return on investment than Qnb Finansbank. However, Mackolik Internet Hizmetleri is 1.43 times less risky than Qnb Finansbank. It trades about 0.05 of its potential returns per unit of risk. Qnb Finansbank AS is currently generating about 0.03 per unit of risk. If you would invest 7,521 in Mackolik Internet Hizmetleri on August 29, 2024 and sell it today you would earn a total of 1,839 from holding Mackolik Internet Hizmetleri or generate 24.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.51% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. Qnb Finansbank AS
Performance |
| Timeline |
| Mackolik Internet |
| Qnb Finansbank AS |
Mackolik Internet and Qnb Finansbank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Qnb Finansbank
The main advantage of trading using opposite Mackolik Internet and Qnb Finansbank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Qnb Finansbank 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 Qnb Finansbank will offset losses from the drop in Qnb Finansbank'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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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