Correlation Between Seker Finansal and Ditas Dogan
Can any of the company-specific risk be diversified away by investing in both Seker Finansal and Ditas Dogan 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 Seker Finansal and Ditas Dogan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Seker Finansal Kiralama and Ditas Dogan Yedek, you can compare the effects of market volatilities on Seker Finansal and Ditas Dogan 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 Seker Finansal with a short position of Ditas Dogan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Seker Finansal and Ditas Dogan.
Diversification Opportunities for Seker Finansal and Ditas Dogan
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Seker and Ditas is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Seker Finansal Kiralama and Ditas Dogan Yedek in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ditas Dogan Yedek and Seker Finansal 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 Seker Finansal Kiralama are associated (or correlated) with Ditas Dogan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ditas Dogan Yedek has no effect on the direction of Seker Finansal i.e., Seker Finansal and Ditas Dogan go up and down completely randomly.
Pair Corralation between Seker Finansal and Ditas Dogan
Assuming the 90 days trading horizon Seker Finansal Kiralama is expected to generate 1.48 times more return on investment than Ditas Dogan. However, Seker Finansal is 1.48 times more volatile than Ditas Dogan Yedek. It trades about -0.11 of its potential returns per unit of risk. Ditas Dogan Yedek is currently generating about -0.36 per unit of risk. If you would invest 746.00 in Seker Finansal Kiralama on November 28, 2024 and sell it today you would lose (52.00) from holding Seker Finansal Kiralama or give up 6.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Seker Finansal Kiralama vs. Ditas Dogan Yedek
Performance |
| Timeline |
| Seker Finansal Kiralama |
| Ditas Dogan Yedek |
Seker Finansal and Ditas Dogan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Seker Finansal and Ditas Dogan
The main advantage of trading using opposite Seker Finansal and Ditas Dogan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Seker Finansal position performs unexpectedly, Ditas Dogan 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 Ditas Dogan will offset losses from the drop in Ditas Dogan's long position.| Seker Finansal vs. Politeknik Metal Sanayi | Seker Finansal vs. Bms Birlesik Metal | Seker Finansal vs. Koza Anadolu Metal | Seker Finansal vs. KOC METALURJI |
| Ditas Dogan vs. Akbank TAS | Ditas Dogan vs. Turkiye Garanti Bankasi | Ditas Dogan vs. Yapi ve Kredi | Ditas Dogan vs. Turkiye Petrol Rafinerileri |
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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