Correlation Between Qnb Finansbank and Ihlas Yayin
Can any of the company-specific risk be diversified away by investing in both Qnb Finansbank and Ihlas Yayin 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 Finansbank and Ihlas Yayin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Qnb Finansbank AS and Ihlas Yayin Holding, you can compare the effects of market volatilities on Qnb Finansbank and Ihlas Yayin 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 Finansbank with a short position of Ihlas Yayin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qnb Finansbank and Ihlas Yayin.
Diversification Opportunities for Qnb Finansbank and Ihlas Yayin
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Qnb and Ihlas is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Qnb Finansbank AS and Ihlas Yayin Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ihlas Yayin Holding and Qnb Finansbank 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 Finansbank AS are associated (or correlated) with Ihlas Yayin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ihlas Yayin Holding has no effect on the direction of Qnb Finansbank i.e., Qnb Finansbank and Ihlas Yayin go up and down completely randomly.
Pair Corralation between Qnb Finansbank and Ihlas Yayin
Assuming the 90 days trading horizon Qnb Finansbank AS is expected to generate 0.43 times more return on investment than Ihlas Yayin. However, Qnb Finansbank AS is 2.33 times less risky than Ihlas Yayin. It trades about -0.06 of its potential returns per unit of risk. Ihlas Yayin Holding is currently generating about -0.22 per unit of risk. If you would invest 27,950 in Qnb Finansbank AS on September 21, 2024 and sell it today you would lose (850.00) from holding Qnb Finansbank AS or give up 3.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qnb Finansbank AS vs. Ihlas Yayin Holding
Performance |
| Timeline |
| Qnb Finansbank AS |
| Ihlas Yayin Holding |
Qnb Finansbank and Ihlas Yayin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qnb Finansbank and Ihlas Yayin
The main advantage of trading using opposite Qnb Finansbank and Ihlas Yayin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qnb Finansbank position performs unexpectedly, Ihlas Yayin 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 Ihlas Yayin will offset losses from the drop in Ihlas Yayin's long position.| Qnb Finansbank vs. SASA Polyester Sanayi | Qnb Finansbank vs. Turkish Airlines | Qnb Finansbank vs. Koc Holding AS | Qnb Finansbank vs. Ford Otomotiv Sanayi |
| Ihlas Yayin vs. Gentas Genel Metal | Ihlas Yayin vs. Creditwest Faktoring AS | Ihlas Yayin vs. Sekerbank TAS | Ihlas Yayin vs. Qnb Finansbank AS |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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