Correlation Between Mackolik Internet and QNB Finans
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and QNB Finans 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 Finans 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 Finans Finansal, you can compare the effects of market volatilities on Mackolik Internet and QNB Finans 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 Finans. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and QNB Finans.
Diversification Opportunities for Mackolik Internet and QNB Finans
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Mackolik and QNB is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and QNB Finans Finansal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QNB Finans Finansal 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 Finans. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QNB Finans Finansal has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and QNB Finans go up and down completely randomly.
Pair Corralation between Mackolik Internet and QNB Finans
Assuming the 90 days trading horizon Mackolik Internet Hizmetleri is expected to generate 1.12 times more return on investment than QNB Finans. However, Mackolik Internet is 1.12 times more volatile than QNB Finans Finansal. It trades about -0.01 of its potential returns per unit of risk. QNB Finans Finansal is currently generating about -0.53 per unit of risk. If you would invest 11,000 in Mackolik Internet Hizmetleri on November 27, 2024 and sell it today you would lose (100.00) from holding Mackolik Internet Hizmetleri or give up 0.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 23.81% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. QNB Finans Finansal
Performance |
| Timeline |
| Mackolik Internet |
| QNB Finans Finansal |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Mackolik Internet and QNB Finans Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and QNB Finans
The main advantage of trading using opposite Mackolik Internet and QNB Finans positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, QNB Finans 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 Finans will offset losses from the drop in QNB Finans' long position.| Mackolik Internet vs. Galatasaray Sportif Sinai | Mackolik Internet vs. Cuhadaroglu Metal Sanayi | Mackolik Internet vs. Qnb Finansbank AS | Mackolik Internet vs. MEGA METAL |
| QNB Finans vs. MEGA METAL | QNB Finans vs. Borlease Otomotiv AS | QNB Finans vs. Koza Anadolu Metal | QNB Finans vs. KOC METALURJI |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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