Correlation Between Prizma Pres and Haci Omer
Can any of the company-specific risk be diversified away by investing in both Prizma Pres and Haci Omer 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 Haci Omer 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 Haci Omer Sabanci, you can compare the effects of market volatilities on Prizma Pres and Haci Omer 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 Haci Omer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Prizma Pres and Haci Omer.
Diversification Opportunities for Prizma Pres and Haci Omer
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Prizma and Haci is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Prizma Pres Matbaacilik and Haci Omer Sabanci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haci Omer Sabanci 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 Haci Omer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haci Omer Sabanci has no effect on the direction of Prizma Pres i.e., Prizma Pres and Haci Omer go up and down completely randomly.
Pair Corralation between Prizma Pres and Haci Omer
Assuming the 90 days trading horizon Prizma Pres Matbaacilik is expected to under-perform the Haci Omer. In addition to that, Prizma Pres is 1.27 times more volatile than Haci Omer Sabanci. It trades about -0.15 of its total potential returns per unit of risk. Haci Omer Sabanci is currently generating about 0.12 per unit of volatility. If you would invest 8,565 in Haci Omer Sabanci on August 30, 2024 and sell it today you would earn a total of 555.00 from holding Haci Omer Sabanci or generate 6.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Prizma Pres Matbaacilik vs. Haci Omer Sabanci
Performance |
| Timeline |
| Prizma Pres Matbaacilik |
| Haci Omer Sabanci |
Prizma Pres and Haci Omer Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Prizma Pres and Haci Omer
The main advantage of trading using opposite Prizma Pres and Haci Omer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Prizma Pres position performs unexpectedly, Haci Omer 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 Haci Omer will offset losses from the drop in Haci Omer's long position.| Prizma Pres vs. Haci Omer Sabanci | Prizma Pres vs. Turkiye Petrol Rafinerileri | Prizma Pres vs. Turkiye Garanti Bankasi | Prizma Pres vs. Akbank TAS |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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