Correlation Between Prizma Pres and Margun Enerji
Can any of the company-specific risk be diversified away by investing in both Prizma Pres and Margun Enerji 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 Prizma Pres and Margun Enerji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Prizma Pres Matbaacilik and Margun Enerji Uretim, you can compare the effects of market volatilities on Prizma Pres and Margun Enerji 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 Prizma Pres with a short position of Margun Enerji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Prizma Pres and Margun Enerji.
Diversification Opportunities for Prizma Pres and Margun Enerji
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Prizma and Margun is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Prizma Pres Matbaacilik and Margun Enerji Uretim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Margun Enerji Uretim and Prizma Pres 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 Prizma Pres Matbaacilik are associated (or correlated) with Margun Enerji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Margun Enerji Uretim has no effect on the direction of Prizma Pres i.e., Prizma Pres and Margun Enerji go up and down completely randomly.
Pair Corralation between Prizma Pres and Margun Enerji
Assuming the 90 days trading horizon Prizma Pres Matbaacilik is expected to under-perform the Margun Enerji. In addition to that, Prizma Pres is 1.07 times more volatile than Margun Enerji Uretim. It trades about -0.03 of its total potential returns per unit of risk. Margun Enerji Uretim is currently generating about 0.04 per unit of volatility. If you would invest 1,530 in Margun Enerji Uretim on August 26, 2024 and sell it today you would earn a total of 388.00 from holding Margun Enerji Uretim or generate 25.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Prizma Pres Matbaacilik vs. Margun Enerji Uretim
Performance |
| Timeline |
| Prizma Pres Matbaacilik |
| Margun Enerji Uretim |
Prizma Pres and Margun Enerji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Prizma Pres and Margun Enerji
The main advantage of trading using opposite Prizma Pres and Margun Enerji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Prizma Pres position performs unexpectedly, Margun Enerji 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 Margun Enerji will offset losses from the drop in Margun Enerji's long position.| Prizma Pres vs. QNB Finans Finansal | Prizma Pres vs. Pamel Yenilenebilir Elektrik | Prizma Pres vs. Brisa Bridgestone Sabanci | Prizma Pres vs. Dogus Gayrimenkul Yatirim |
| Margun Enerji vs. Turkish Airlines | Margun Enerji vs. Koc Holding AS | Margun Enerji vs. Ford Otomotiv Sanayi | Margun Enerji 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |