Correlation Between Marshall Boya and Merko Gida
Can any of the company-specific risk be diversified away by investing in both Marshall Boya and Merko Gida 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 Marshall Boya and Merko Gida into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marshall Boya ve and Merko Gida Sanayi, you can compare the effects of market volatilities on Marshall Boya and Merko Gida 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 Marshall Boya with a short position of Merko Gida. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marshall Boya and Merko Gida.
Diversification Opportunities for Marshall Boya and Merko Gida
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marshall and Merko is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Marshall Boya ve and Merko Gida Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Merko Gida Sanayi and Marshall Boya 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 Marshall Boya ve are associated (or correlated) with Merko Gida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Merko Gida Sanayi has no effect on the direction of Marshall Boya i.e., Marshall Boya and Merko Gida go up and down completely randomly.
Pair Corralation between Marshall Boya and Merko Gida
Assuming the 90 days trading horizon Marshall Boya ve is expected to under-perform the Merko Gida. But the stock apears to be less risky and, when comparing its historical volatility, Marshall Boya ve is 2.07 times less risky than Merko Gida. The stock trades about -0.04 of its potential returns per unit of risk. The Merko Gida Sanayi is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,525 in Merko Gida Sanayi on August 27, 2024 and sell it today you would earn a total of 28.00 from holding Merko Gida Sanayi or generate 1.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marshall Boya ve vs. Merko Gida Sanayi
Performance |
| Timeline |
| Marshall Boya ve |
| Merko Gida Sanayi |
Marshall Boya and Merko Gida Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marshall Boya and Merko Gida
The main advantage of trading using opposite Marshall Boya and Merko Gida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marshall Boya position performs unexpectedly, Merko Gida 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 Merko Gida will offset losses from the drop in Merko Gida's long position.| Marshall Boya vs. Akbank TAS | Marshall Boya vs. Silverline Endustri ve | Marshall Boya vs. Gentas Genel Metal | Marshall Boya vs. Politeknik Metal Sanayi |
| Merko Gida vs. Politeknik Metal Sanayi | Merko Gida vs. Sodas Sodyum Sanayi | Merko Gida vs. ICBC Turkey Bank | Merko Gida vs. Bms Birlesik 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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