Correlation Between Margun Enerji and Dogus Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Margun Enerji and Dogus Gayrimenkul 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 Margun Enerji and Dogus Gayrimenkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Margun Enerji Uretim and Dogus Gayrimenkul Yatirim, you can compare the effects of market volatilities on Margun Enerji and Dogus Gayrimenkul 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 Margun Enerji with a short position of Dogus Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Margun Enerji and Dogus Gayrimenkul.
Diversification Opportunities for Margun Enerji and Dogus Gayrimenkul
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Margun and Dogus is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Margun Enerji Uretim and Dogus Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dogus Gayrimenkul Yatirim and Margun Enerji 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 Margun Enerji Uretim are associated (or correlated) with Dogus Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dogus Gayrimenkul Yatirim has no effect on the direction of Margun Enerji i.e., Margun Enerji and Dogus Gayrimenkul go up and down completely randomly.
Pair Corralation between Margun Enerji and Dogus Gayrimenkul
Assuming the 90 days trading horizon Margun Enerji Uretim is expected to under-perform the Dogus Gayrimenkul. But the stock apears to be less risky and, when comparing its historical volatility, Margun Enerji Uretim is 1.85 times less risky than Dogus Gayrimenkul. The stock trades about -0.13 of its potential returns per unit of risk. The Dogus Gayrimenkul Yatirim is currently generating about 0.43 of returns per unit of risk over similar time horizon. If you would invest 3,298 in Dogus Gayrimenkul Yatirim on August 28, 2024 and sell it today you would earn a total of 948.00 from holding Dogus Gayrimenkul Yatirim or generate 28.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Margun Enerji Uretim vs. Dogus Gayrimenkul Yatirim
Performance |
| Timeline |
| Margun Enerji Uretim |
| Dogus Gayrimenkul Yatirim |
Margun Enerji and Dogus Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Margun Enerji and Dogus Gayrimenkul
The main advantage of trading using opposite Margun Enerji and Dogus Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Margun Enerji position performs unexpectedly, Dogus Gayrimenkul 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 Dogus Gayrimenkul will offset losses from the drop in Dogus Gayrimenkul's long position.| Margun Enerji vs. Sodas Sodyum Sanayi | Margun Enerji vs. Bms Birlesik Metal | Margun Enerji vs. Turkiye Kalkinma Bankasi | Margun Enerji vs. Creditwest Faktoring AS |
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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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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