Correlation Between QNB Finans and Dagi Giyim
Can any of the company-specific risk be diversified away by investing in both QNB Finans and Dagi Giyim 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 QNB Finans and Dagi Giyim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between QNB Finans Finansal and Dagi Giyim Sanayi, you can compare the effects of market volatilities on QNB Finans and Dagi Giyim 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 QNB Finans with a short position of Dagi Giyim. Check out your portfolio center. Please also check ongoing floating volatility patterns of QNB Finans and Dagi Giyim.
Diversification Opportunities for QNB Finans and Dagi Giyim
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between QNB and Dagi is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding QNB Finans Finansal and Dagi Giyim Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dagi Giyim Sanayi and QNB Finans 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 QNB Finans Finansal are associated (or correlated) with Dagi Giyim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dagi Giyim Sanayi has no effect on the direction of QNB Finans i.e., QNB Finans and Dagi Giyim go up and down completely randomly.
Pair Corralation between QNB Finans and Dagi Giyim
Assuming the 90 days trading horizon QNB Finans Finansal is expected to under-perform the Dagi Giyim. In addition to that, QNB Finans is 5.66 times more volatile than Dagi Giyim Sanayi. It trades about -0.17 of its total potential returns per unit of risk. Dagi Giyim Sanayi is currently generating about 0.24 per unit of volatility. If you would invest 1,344 in Dagi Giyim Sanayi on September 12, 2024 and sell it today you would earn a total of 154.00 from holding Dagi Giyim Sanayi or generate 11.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
QNB Finans Finansal vs. Dagi Giyim Sanayi
Performance |
| Timeline |
| QNB Finans Finansal |
| Dagi Giyim Sanayi |
QNB Finans and Dagi Giyim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QNB Finans and Dagi Giyim
The main advantage of trading using opposite QNB Finans and Dagi Giyim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QNB Finans position performs unexpectedly, Dagi Giyim 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 Dagi Giyim will offset losses from the drop in Dagi Giyim's long position.| QNB Finans vs. Bms Birlesik Metal | QNB Finans vs. Gentas Genel Metal | QNB Finans vs. Turkiye Kalkinma Bankasi | QNB Finans vs. MEGA METAL |
| Dagi Giyim vs. QNB Finans Finansal | Dagi Giyim vs. Pamel Yenilenebilir Elektrik | Dagi Giyim vs. IZDEMIR Enerji Elektrik | Dagi Giyim vs. Logo Yazilim Sanayi |
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 CEOs Directory module to screen CEOs from public companies around the world.
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