Correlation Between Margun Enerji and Vakif Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Margun Enerji and Vakif 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 Vakif 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 Vakif Gayrimenkul Yatirim, you can compare the effects of market volatilities on Margun Enerji and Vakif 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 Vakif Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Margun Enerji and Vakif Gayrimenkul.
Diversification Opportunities for Margun Enerji and Vakif Gayrimenkul
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Margun and Vakif is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Margun Enerji Uretim and Vakif Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vakif 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 Vakif Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vakif Gayrimenkul Yatirim has no effect on the direction of Margun Enerji i.e., Margun Enerji and Vakif Gayrimenkul go up and down completely randomly.
Pair Corralation between Margun Enerji and Vakif Gayrimenkul
Assuming the 90 days trading horizon Margun Enerji Uretim is expected to under-perform the Vakif Gayrimenkul. But the stock apears to be less risky and, when comparing its historical volatility, Margun Enerji Uretim is 1.94 times less risky than Vakif Gayrimenkul. The stock trades about -0.27 of its potential returns per unit of risk. The Vakif Gayrimenkul Yatirim is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 183.00 in Vakif Gayrimenkul Yatirim on August 30, 2024 and sell it today you would earn a total of 24.00 from holding Vakif Gayrimenkul Yatirim or generate 13.11% 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. Vakif Gayrimenkul Yatirim
Performance |
| Timeline |
| Margun Enerji Uretim |
| Vakif Gayrimenkul Yatirim |
Margun Enerji and Vakif Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Margun Enerji and Vakif Gayrimenkul
The main advantage of trading using opposite Margun Enerji and Vakif Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Margun Enerji position performs unexpectedly, Vakif 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 Vakif Gayrimenkul will offset losses from the drop in Vakif Gayrimenkul's long position.| Margun Enerji vs. Qnb Finansbank AS | Margun Enerji vs. MEGA METAL | Margun Enerji vs. Akcansa Cimento Sanayi | Margun Enerji vs. Cuhadaroglu Metal Sanayi |
| Vakif Gayrimenkul vs. Koc Holding AS | Vakif Gayrimenkul vs. Turkish Airlines | Vakif Gayrimenkul vs. Turkiye Garanti Bankasi | Vakif Gayrimenkul vs. Turkiye Petrol Rafinerileri |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |