Correlation Between Margun Enerji and Kuyas Yatirim
Can any of the company-specific risk be diversified away by investing in both Margun Enerji and Kuyas Yatirim 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 Kuyas Yatirim 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 Kuyas Yatirim AS, you can compare the effects of market volatilities on Margun Enerji and Kuyas Yatirim 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 Kuyas Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Margun Enerji and Kuyas Yatirim.
Diversification Opportunities for Margun Enerji and Kuyas Yatirim
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Margun and Kuyas is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Margun Enerji Uretim and Kuyas Yatirim AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuyas Yatirim AS 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 Kuyas Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuyas Yatirim AS has no effect on the direction of Margun Enerji i.e., Margun Enerji and Kuyas Yatirim go up and down completely randomly.
Pair Corralation between Margun Enerji and Kuyas Yatirim
Assuming the 90 days trading horizon Margun Enerji Uretim is expected to under-perform the Kuyas Yatirim. But the stock apears to be less risky and, when comparing its historical volatility, Margun Enerji Uretim is 1.62 times less risky than Kuyas Yatirim. The stock trades about -0.27 of its potential returns per unit of risk. The Kuyas Yatirim AS is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 1,738 in Kuyas Yatirim AS on August 31, 2024 and sell it today you would lose (37.00) from holding Kuyas Yatirim AS or give up 2.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Margun Enerji Uretim vs. Kuyas Yatirim AS
Performance |
| Timeline |
| Margun Enerji Uretim |
| Kuyas Yatirim AS |
Margun Enerji and Kuyas Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Margun Enerji and Kuyas Yatirim
The main advantage of trading using opposite Margun Enerji and Kuyas Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Margun Enerji position performs unexpectedly, Kuyas Yatirim 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 Kuyas Yatirim will offset losses from the drop in Kuyas Yatirim's long position.| Margun Enerji vs. Galatasaray Sportif Sinai | Margun Enerji vs. Bms Birlesik Metal | Margun Enerji vs. MEGA METAL | Margun Enerji vs. Politeknik 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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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