Correlation Between Direxion Daily and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Direxion Daily and Guler 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 Direxion Daily and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Direxion Daily Mid and Guler Yatirim Holding, you can compare the effects of market volatilities on Direxion Daily and Guler 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 Direxion Daily with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Direxion Daily and Guler Yatirim.
Diversification Opportunities for Direxion Daily and Guler Yatirim
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Direxion and Guler is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Mid and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding and Direxion Daily 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 Direxion Daily Mid are associated (or correlated) with Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of Direxion Daily i.e., Direxion Daily and Guler Yatirim go up and down completely randomly.
Pair Corralation between Direxion Daily and Guler Yatirim
Given the investment horizon of 90 days Direxion Daily Mid is expected to generate 1.03 times more return on investment than Guler Yatirim. However, Direxion Daily is 1.03 times more volatile than Guler Yatirim Holding. It trades about 0.09 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.03 per unit of risk. If you would invest 3,822 in Direxion Daily Mid on September 4, 2024 and sell it today you would earn a total of 2,910 from holding Direxion Daily Mid or generate 76.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
Direxion Daily Mid vs. Guler Yatirim Holding
Performance |
| Timeline |
| Direxion Daily Mid |
| Guler Yatirim Holding |
Direxion Daily and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Direxion Daily and Guler Yatirim
The main advantage of trading using opposite Direxion Daily and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Direxion Daily position performs unexpectedly, Guler 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| Direxion Daily vs. Direxion Daily Retail | Direxion Daily vs. Direxion Daily Industrials | Direxion Daily vs. Direxion Daily Transportation | Direxion Daily vs. Direxion Daily FTSE |
| Guler Yatirim vs. MEGA METAL | Guler Yatirim vs. Politeknik Metal Sanayi | Guler Yatirim vs. Sekerbank TAS | Guler Yatirim vs. Trabzonspor Sportif Yatirim |
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.
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