Correlation Between Penta Teknoloji and Hitit Bilgisayar
Can any of the company-specific risk be diversified away by investing in both Penta Teknoloji and Hitit Bilgisayar 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 Penta Teknoloji and Hitit Bilgisayar into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Penta Teknoloji Urunleri and Hitit Bilgisayar Hizmetleri, you can compare the effects of market volatilities on Penta Teknoloji and Hitit Bilgisayar 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 Penta Teknoloji with a short position of Hitit Bilgisayar. Check out your portfolio center. Please also check ongoing floating volatility patterns of Penta Teknoloji and Hitit Bilgisayar.
Diversification Opportunities for Penta Teknoloji and Hitit Bilgisayar
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Penta and Hitit is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Penta Teknoloji Urunleri and Hitit Bilgisayar Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hitit Bilgisayar Hiz and Penta Teknoloji 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 Penta Teknoloji Urunleri are associated (or correlated) with Hitit Bilgisayar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hitit Bilgisayar Hiz has no effect on the direction of Penta Teknoloji i.e., Penta Teknoloji and Hitit Bilgisayar go up and down completely randomly.
Pair Corralation between Penta Teknoloji and Hitit Bilgisayar
Assuming the 90 days trading horizon Penta Teknoloji Urunleri is expected to generate 0.65 times more return on investment than Hitit Bilgisayar. However, Penta Teknoloji Urunleri is 1.54 times less risky than Hitit Bilgisayar. It trades about 0.28 of its potential returns per unit of risk. Hitit Bilgisayar Hizmetleri is currently generating about 0.0 per unit of risk. If you would invest 1,360 in Penta Teknoloji Urunleri on September 5, 2024 and sell it today you would earn a total of 157.00 from holding Penta Teknoloji Urunleri or generate 11.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Penta Teknoloji Urunleri vs. Hitit Bilgisayar Hizmetleri
Performance |
| Timeline |
| Penta Teknoloji Urunleri |
| Hitit Bilgisayar Hiz |
Penta Teknoloji and Hitit Bilgisayar Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Penta Teknoloji and Hitit Bilgisayar
The main advantage of trading using opposite Penta Teknoloji and Hitit Bilgisayar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Penta Teknoloji position performs unexpectedly, Hitit Bilgisayar 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 Hitit Bilgisayar will offset losses from the drop in Hitit Bilgisayar's long position.| Penta Teknoloji vs. Hitit Bilgisayar Hizmetleri | Penta Teknoloji vs. Kafein Yazilim | Penta Teknoloji vs. Silverline Endustri ve | Penta Teknoloji vs. Elite Naturel Organik |
| Hitit Bilgisayar vs. Kafein Yazilim | Hitit Bilgisayar vs. Silverline Endustri ve | Hitit Bilgisayar vs. Elite Naturel Organik | Hitit Bilgisayar vs. Reysas Tasimacilik ve |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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