Correlation Between QNB Finans and Seker Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both QNB Finans and Seker Gayrimenkul 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 Seker Gayrimenkul 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 Seker Gayrimenkul Yatirim, you can compare the effects of market volatilities on QNB Finans and Seker Gayrimenkul 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 Seker Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of QNB Finans and Seker Gayrimenkul.
Diversification Opportunities for QNB Finans and Seker Gayrimenkul
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between QNB and Seker is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding QNB Finans Finansal and Seker Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seker Gayrimenkul Yatirim 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 Seker Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seker Gayrimenkul Yatirim has no effect on the direction of QNB Finans i.e., QNB Finans and Seker Gayrimenkul go up and down completely randomly.
Pair Corralation between QNB Finans and Seker Gayrimenkul
Assuming the 90 days trading horizon QNB Finans Finansal is expected to under-perform the Seker Gayrimenkul. In addition to that, QNB Finans is 1.59 times more volatile than Seker Gayrimenkul Yatirim. It trades about -0.02 of its total potential returns per unit of risk. Seker Gayrimenkul Yatirim is currently generating about 0.0 per unit of volatility. If you would invest 551.00 in Seker Gayrimenkul Yatirim on September 14, 2024 and sell it today you would lose (96.00) from holding Seker Gayrimenkul Yatirim or give up 17.42% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.63% |
| Values | Daily Returns |
QNB Finans Finansal vs. Seker Gayrimenkul Yatirim
Performance |
| Timeline |
| QNB Finans Finansal |
| Seker Gayrimenkul Yatirim |
QNB Finans and Seker Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QNB Finans and Seker Gayrimenkul
The main advantage of trading using opposite QNB Finans and Seker Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QNB Finans position performs unexpectedly, Seker Gayrimenkul 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 Seker Gayrimenkul will offset losses from the drop in Seker Gayrimenkul's long position.| QNB Finans vs. E Data Teknoloji Pazarlama | QNB Finans vs. Koza Anadolu Metal | QNB Finans vs. Bms Birlesik Metal | QNB Finans vs. Cuhadaroglu Metal Sanayi |
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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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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