Correlation Between Pasifik Eurasia and SASA Polyester
Can any of the company-specific risk be diversified away by investing in both Pasifik Eurasia and SASA Polyester 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 Pasifik Eurasia and SASA Polyester into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pasifik Eurasia Lojistik and SASA Polyester Sanayi, you can compare the effects of market volatilities on Pasifik Eurasia and SASA Polyester 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 Pasifik Eurasia with a short position of SASA Polyester. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pasifik Eurasia and SASA Polyester.
Diversification Opportunities for Pasifik Eurasia and SASA Polyester
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Pasifik and SASA is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Pasifik Eurasia Lojistik and SASA Polyester Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SASA Polyester Sanayi and Pasifik Eurasia 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 Pasifik Eurasia Lojistik are associated (or correlated) with SASA Polyester. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SASA Polyester Sanayi has no effect on the direction of Pasifik Eurasia i.e., Pasifik Eurasia and SASA Polyester go up and down completely randomly.
Pair Corralation between Pasifik Eurasia and SASA Polyester
If you would invest 2,400 in Pasifik Eurasia Lojistik on September 16, 2024 and sell it today you would earn a total of 488.00 from holding Pasifik Eurasia Lojistik or generate 20.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 2.33% |
| Values | Daily Returns |
Pasifik Eurasia Lojistik vs. SASA Polyester Sanayi
Performance |
| Timeline |
| Pasifik Eurasia Lojistik |
| SASA Polyester Sanayi |
Pasifik Eurasia and SASA Polyester Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pasifik Eurasia and SASA Polyester
The main advantage of trading using opposite Pasifik Eurasia and SASA Polyester positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pasifik Eurasia position performs unexpectedly, SASA Polyester 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 SASA Polyester will offset losses from the drop in SASA Polyester's long position.| Pasifik Eurasia vs. Politeknik Metal Sanayi | Pasifik Eurasia vs. Borlease Otomotiv AS | Pasifik Eurasia vs. Qnb Finansbank AS | Pasifik Eurasia vs. Silverline Endustri ve |
| SASA Polyester vs. Hektas Ticaret TAS | SASA Polyester vs. Eregli Demir ve | SASA Polyester vs. Turkiye Sise ve | SASA Polyester vs. Turkiye Petrol Rafinerileri |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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