Correlation Between SASA Polyester and Ingram Micro
Can any of the company-specific risk be diversified away by investing in both SASA Polyester and Ingram Micro 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 SASA Polyester and Ingram Micro into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SASA Polyester Sanayi and Ingram Micro Bilisim, you can compare the effects of market volatilities on SASA Polyester and Ingram Micro 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 SASA Polyester with a short position of Ingram Micro. Check out your portfolio center. Please also check ongoing floating volatility patterns of SASA Polyester and Ingram Micro.
Diversification Opportunities for SASA Polyester and Ingram Micro
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between SASA and Ingram is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding SASA Polyester Sanayi and Ingram Micro Bilisim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingram Micro Bilisim and SASA Polyester 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 SASA Polyester Sanayi are associated (or correlated) with Ingram Micro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingram Micro Bilisim has no effect on the direction of SASA Polyester i.e., SASA Polyester and Ingram Micro go up and down completely randomly.
Pair Corralation between SASA Polyester and Ingram Micro
Assuming the 90 days trading horizon SASA Polyester Sanayi is expected to generate 1.51 times more return on investment than Ingram Micro. However, SASA Polyester is 1.51 times more volatile than Ingram Micro Bilisim. It trades about 0.12 of its potential returns per unit of risk. Ingram Micro Bilisim is currently generating about -0.34 per unit of risk. If you would invest 353.00 in SASA Polyester Sanayi on December 6, 2024 and sell it today you would earn a total of 20.00 from holding SASA Polyester Sanayi or generate 5.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
SASA Polyester Sanayi vs. Ingram Micro Bilisim
Performance |
| Timeline |
| SASA Polyester Sanayi |
| Ingram Micro Bilisim |
SASA Polyester and Ingram Micro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SASA Polyester and Ingram Micro
The main advantage of trading using opposite SASA Polyester and Ingram Micro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SASA Polyester position performs unexpectedly, Ingram Micro 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 Ingram Micro will offset losses from the drop in Ingram Micro's long position.| SASA Polyester vs. Hektas Ticaret TAS | SASA Polyester vs. Eregli Demir ve | SASA Polyester vs. Turkiye Sise ve | SASA Polyester vs. Turkiye Petrol Rafinerileri |
| Ingram Micro vs. Koza Anadolu Metal | Ingram Micro vs. KOC METALURJI | Ingram Micro vs. Akbank TAS | Ingram Micro vs. MEGA METAL |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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