Correlation Between MEGA METAL and Marka Yatirim
Can any of the company-specific risk be diversified away by investing in both MEGA METAL and Marka 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 MEGA METAL and Marka Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MEGA METAL and Marka Yatirim Holding, you can compare the effects of market volatilities on MEGA METAL and Marka 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 MEGA METAL with a short position of Marka Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of MEGA METAL and Marka Yatirim.
Diversification Opportunities for MEGA METAL and Marka Yatirim
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MEGA and Marka is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding MEGA METAL and Marka Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marka Yatirim Holding and MEGA METAL 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 MEGA METAL are associated (or correlated) with Marka Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marka Yatirim Holding has no effect on the direction of MEGA METAL i.e., MEGA METAL and Marka Yatirim go up and down completely randomly.
Pair Corralation between MEGA METAL and Marka Yatirim
Assuming the 90 days trading horizon MEGA METAL is expected to generate 5.18 times less return on investment than Marka Yatirim. But when comparing it to its historical volatility, MEGA METAL is 1.2 times less risky than Marka Yatirim. It trades about 0.03 of its potential returns per unit of risk. Marka Yatirim Holding is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1,175 in Marka Yatirim Holding on September 12, 2024 and sell it today you would earn a total of 4,475 from holding Marka Yatirim Holding or generate 380.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 74.77% |
| Values | Daily Returns |
MEGA METAL vs. Marka Yatirim Holding
Performance |
| Timeline |
| MEGA METAL |
| Marka Yatirim Holding |
MEGA METAL and Marka Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MEGA METAL and Marka Yatirim
The main advantage of trading using opposite MEGA METAL and Marka Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MEGA METAL position performs unexpectedly, Marka 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 Marka Yatirim will offset losses from the drop in Marka Yatirim's long position.| MEGA METAL vs. Bms Birlesik Metal | MEGA METAL vs. Koza Anadolu Metal | MEGA METAL vs. Politeknik Metal Sanayi | MEGA METAL vs. Gentas Genel Metal |
| Marka Yatirim vs. Politeknik Metal Sanayi | Marka Yatirim vs. Borlease Otomotiv AS | Marka Yatirim vs. MEGA METAL | Marka Yatirim vs. Gentas Genel Metal |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |