Correlation Between Qnb Finansbank and Yesil Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Qnb Finansbank and Yesil 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 Finansbank and Yesil Gayrimenkul 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 Yesil Gayrimenkul Yatirim, you can compare the effects of market volatilities on Qnb Finansbank and Yesil 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 Finansbank with a short position of Yesil Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qnb Finansbank and Yesil Gayrimenkul.
Diversification Opportunities for Qnb Finansbank and Yesil Gayrimenkul
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Qnb and Yesil is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Qnb Finansbank AS and Yesil Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil Gayrimenkul Yatirim 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 Yesil Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Gayrimenkul Yatirim has no effect on the direction of Qnb Finansbank i.e., Qnb Finansbank and Yesil Gayrimenkul go up and down completely randomly.
Pair Corralation between Qnb Finansbank and Yesil Gayrimenkul
Assuming the 90 days trading horizon Qnb Finansbank is expected to generate 757.18 times less return on investment than Yesil Gayrimenkul. But when comparing it to its historical volatility, Qnb Finansbank AS is 2.23 times less risky than Yesil Gayrimenkul. It trades about 0.0 of its potential returns per unit of risk. Yesil Gayrimenkul Yatirim is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 778.00 in Yesil Gayrimenkul Yatirim on September 14, 2024 and sell it today you would earn a total of 229.00 from holding Yesil Gayrimenkul Yatirim or generate 29.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qnb Finansbank AS vs. Yesil Gayrimenkul Yatirim
Performance |
| Timeline |
| Qnb Finansbank AS |
| Yesil Gayrimenkul Yatirim |
Qnb Finansbank and Yesil Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qnb Finansbank and Yesil Gayrimenkul
The main advantage of trading using opposite Qnb Finansbank and Yesil Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qnb Finansbank position performs unexpectedly, Yesil 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 Yesil Gayrimenkul will offset losses from the drop in Yesil Gayrimenkul's long position.| Qnb Finansbank vs. Silverline Endustri ve | Qnb Finansbank vs. Gentas Genel Metal | Qnb Finansbank vs. Politeknik Metal Sanayi | Qnb Finansbank vs. Koza Anadolu Metal |
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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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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