Correlation Between Haci Omer and Prizma Pres
Can any of the company-specific risk be diversified away by investing in both Haci Omer and Prizma Pres 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 Haci Omer and Prizma Pres into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Haci Omer Sabanci and Prizma Pres Matbaacilik, you can compare the effects of market volatilities on Haci Omer and Prizma Pres 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 Haci Omer with a short position of Prizma Pres. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haci Omer and Prizma Pres.
Diversification Opportunities for Haci Omer and Prizma Pres
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Haci and Prizma is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Haci Omer Sabanci and Prizma Pres Matbaacilik in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Prizma Pres Matbaacilik and Haci Omer 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 Haci Omer Sabanci are associated (or correlated) with Prizma Pres. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Prizma Pres Matbaacilik has no effect on the direction of Haci Omer i.e., Haci Omer and Prizma Pres go up and down completely randomly.
Pair Corralation between Haci Omer and Prizma Pres
Assuming the 90 days trading horizon Haci Omer Sabanci is expected to generate 0.74 times more return on investment than Prizma Pres. However, Haci Omer Sabanci is 1.36 times less risky than Prizma Pres. It trades about -0.02 of its potential returns per unit of risk. Prizma Pres Matbaacilik is currently generating about -0.04 per unit of risk. If you would invest 10,060 in Haci Omer Sabanci on September 1, 2024 and sell it today you would lose (1,010) from holding Haci Omer Sabanci or give up 10.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.2% |
| Values | Daily Returns |
Haci Omer Sabanci vs. Prizma Pres Matbaacilik
Performance |
| Timeline |
| Haci Omer Sabanci |
| Prizma Pres Matbaacilik |
Haci Omer and Prizma Pres Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haci Omer and Prizma Pres
The main advantage of trading using opposite Haci Omer and Prizma Pres positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haci Omer position performs unexpectedly, Prizma Pres 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 Prizma Pres will offset losses from the drop in Prizma Pres' long position.| Haci Omer vs. Koc Holding AS | Haci Omer vs. Turkiye Sise ve | Haci Omer vs. Akbank TAS | Haci Omer vs. Turkiye Petrol Rafinerileri |
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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