Correlation Between Pergamon Status and Emlak Konut
Can any of the company-specific risk be diversified away by investing in both Pergamon Status and Emlak Konut 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 Pergamon Status and Emlak Konut into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pergamon Status Dis and Emlak Konut Gayrimenkul, you can compare the effects of market volatilities on Pergamon Status and Emlak Konut 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 Pergamon Status with a short position of Emlak Konut. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pergamon Status and Emlak Konut.
Diversification Opportunities for Pergamon Status and Emlak Konut
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Pergamon and Emlak is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Pergamon Status Dis and Emlak Konut Gayrimenkul in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emlak Konut Gayrimenkul and Pergamon Status 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 Pergamon Status Dis are associated (or correlated) with Emlak Konut. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emlak Konut Gayrimenkul has no effect on the direction of Pergamon Status i.e., Pergamon Status and Emlak Konut go up and down completely randomly.
Pair Corralation between Pergamon Status and Emlak Konut
Assuming the 90 days trading horizon Pergamon Status Dis is expected to generate 1.25 times more return on investment than Emlak Konut. However, Pergamon Status is 1.25 times more volatile than Emlak Konut Gayrimenkul. It trades about 0.06 of its potential returns per unit of risk. Emlak Konut Gayrimenkul is currently generating about 0.05 per unit of risk. If you would invest 3,228 in Pergamon Status Dis on August 28, 2024 and sell it today you would earn a total of 4,627 from holding Pergamon Status Dis or generate 143.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Pergamon Status Dis vs. Emlak Konut Gayrimenkul
Performance |
| Timeline |
| Pergamon Status Dis |
| Emlak Konut Gayrimenkul |
Pergamon Status and Emlak Konut Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pergamon Status and Emlak Konut
The main advantage of trading using opposite Pergamon Status and Emlak Konut positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pergamon Status position performs unexpectedly, Emlak Konut 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 Emlak Konut will offset losses from the drop in Emlak Konut's long position.| Pergamon Status vs. SASA Polyester Sanayi | Pergamon Status vs. Hektas Ticaret TAS | Pergamon Status vs. Aksa Enerji Uretim | Pergamon Status vs. Ford Otomotiv Sanayi |
| Emlak Konut vs. Yapi ve Kredi | Emlak Konut vs. Petkim Petrokimya Holding | Emlak Konut vs. Turkiye Is Bankasi | Emlak Konut vs. Kardemir Karabuk Demir |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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