Correlation Between Margun Enerji and Yatas Yatak
Can any of the company-specific risk be diversified away by investing in both Margun Enerji and Yatas Yatak 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 Yatas Yatak 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 Yatas Yatak ve, you can compare the effects of market volatilities on Margun Enerji and Yatas Yatak 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 Yatas Yatak. Check out your portfolio center. Please also check ongoing floating volatility patterns of Margun Enerji and Yatas Yatak.
Diversification Opportunities for Margun Enerji and Yatas Yatak
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Margun and Yatas is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Margun Enerji Uretim and Yatas Yatak ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yatas Yatak ve 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 Yatas Yatak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yatas Yatak ve has no effect on the direction of Margun Enerji i.e., Margun Enerji and Yatas Yatak go up and down completely randomly.
Pair Corralation between Margun Enerji and Yatas Yatak
Assuming the 90 days trading horizon Margun Enerji Uretim is expected to generate 1.42 times more return on investment than Yatas Yatak. However, Margun Enerji is 1.42 times more volatile than Yatas Yatak ve. It trades about 0.04 of its potential returns per unit of risk. Yatas Yatak ve is currently generating about 0.0 per unit of risk. If you would invest 1,229 in Margun Enerji Uretim on August 24, 2024 and sell it today you would earn a total of 689.00 from holding Margun Enerji Uretim or generate 56.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.99% |
| Values | Daily Returns |
Margun Enerji Uretim vs. Yatas Yatak ve
Performance |
| Timeline |
| Margun Enerji Uretim |
| Yatas Yatak ve |
Margun Enerji and Yatas Yatak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Margun Enerji and Yatas Yatak
The main advantage of trading using opposite Margun Enerji and Yatas Yatak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Margun Enerji position performs unexpectedly, Yatas Yatak 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 Yatas Yatak will offset losses from the drop in Yatas Yatak's long position.| Margun Enerji vs. CEO Event Medya | Margun Enerji vs. MEGA METAL | Margun Enerji vs. Bms Birlesik Metal | Margun Enerji vs. Politeknik Metal Sanayi |
| Yatas Yatak vs. Mavi Giyim Sanayi | Yatas Yatak vs. BIM Birlesik Magazalar | Yatas Yatak vs. Tofas Turk Otomobil | Yatas Yatak vs. Tekfen Holding AS |
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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