Correlation Between Nurol Gayrimenkul and Sekerbank TAS
Can any of the company-specific risk be diversified away by investing in both Nurol Gayrimenkul and Sekerbank TAS 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 Nurol Gayrimenkul and Sekerbank TAS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nurol Gayrimenkul Yatirim and Sekerbank TAS, you can compare the effects of market volatilities on Nurol Gayrimenkul and Sekerbank TAS 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 Nurol Gayrimenkul with a short position of Sekerbank TAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nurol Gayrimenkul and Sekerbank TAS.
Diversification Opportunities for Nurol Gayrimenkul and Sekerbank TAS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nurol and Sekerbank is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Nurol Gayrimenkul Yatirim and Sekerbank TAS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sekerbank TAS and Nurol Gayrimenkul 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 Nurol Gayrimenkul Yatirim are associated (or correlated) with Sekerbank TAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sekerbank TAS has no effect on the direction of Nurol Gayrimenkul i.e., Nurol Gayrimenkul and Sekerbank TAS go up and down completely randomly.
Pair Corralation between Nurol Gayrimenkul and Sekerbank TAS
If you would invest (100.00) in Nurol Gayrimenkul Yatirim on November 9, 2024 and sell it today you would earn a total of 100.00 from holding Nurol Gayrimenkul Yatirim or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Nurol Gayrimenkul Yatirim vs. Sekerbank TAS
Performance |
| Timeline |
| Nurol Gayrimenkul Yatirim |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Sekerbank TAS |
Nurol Gayrimenkul and Sekerbank TAS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nurol Gayrimenkul and Sekerbank TAS
The main advantage of trading using opposite Nurol Gayrimenkul and Sekerbank TAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nurol Gayrimenkul position performs unexpectedly, Sekerbank TAS 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 Sekerbank TAS will offset losses from the drop in Sekerbank TAS's long position.| Nurol Gayrimenkul vs. MEGA METAL | Nurol Gayrimenkul vs. Qnb Finansbank AS | Nurol Gayrimenkul vs. Galatasaray Sportif Sinai | Nurol Gayrimenkul vs. Politeknik Metal Sanayi |
| Sekerbank TAS vs. Turkiye Sinai Kalkinma | Sekerbank TAS vs. Yapi ve Kredi | Sekerbank TAS vs. Kardemir Karabuk Demir | Sekerbank TAS vs. Turkiye Is Bankasi |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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