Correlation Between Selcuk Ecza and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both Selcuk Ecza and Turkiye Is 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 Selcuk Ecza and Turkiye Is into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Selcuk Ecza Deposu and Turkiye Is Bankasi, you can compare the effects of market volatilities on Selcuk Ecza and Turkiye Is 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 Selcuk Ecza with a short position of Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of Selcuk Ecza and Turkiye Is.
Diversification Opportunities for Selcuk Ecza and Turkiye Is
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Selcuk and Turkiye is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Selcuk Ecza Deposu and Turkiye Is Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Is Bankasi and Selcuk Ecza 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 Selcuk Ecza Deposu are associated (or correlated) with Turkiye Is. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Is Bankasi has no effect on the direction of Selcuk Ecza i.e., Selcuk Ecza and Turkiye Is go up and down completely randomly.
Pair Corralation between Selcuk Ecza and Turkiye Is
Assuming the 90 days trading horizon Selcuk Ecza Deposu is expected to generate 0.93 times more return on investment than Turkiye Is. However, Selcuk Ecza Deposu is 1.08 times less risky than Turkiye Is. It trades about 0.36 of its potential returns per unit of risk. Turkiye Is Bankasi is currently generating about 0.0 per unit of risk. If you would invest 6,435 in Selcuk Ecza Deposu on August 31, 2024 and sell it today you would earn a total of 1,555 from holding Selcuk Ecza Deposu or generate 24.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Selcuk Ecza Deposu vs. Turkiye Is Bankasi
Performance |
| Timeline |
| Selcuk Ecza Deposu |
| Turkiye Is Bankasi |
Selcuk Ecza and Turkiye Is Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Selcuk Ecza and Turkiye Is
The main advantage of trading using opposite Selcuk Ecza and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Selcuk Ecza position performs unexpectedly, Turkiye Is 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 Turkiye Is will offset losses from the drop in Turkiye Is' long position.| Selcuk Ecza vs. Turkiye Is Bankasi | Selcuk Ecza vs. Ege Endustri ve | Selcuk Ecza vs. Turkiye Petrol Rafinerileri | Selcuk Ecza vs. Ford Otomotiv Sanayi |
| Turkiye Is vs. Politeknik Metal Sanayi | Turkiye Is vs. MEGA METAL | Turkiye Is vs. Koza Anadolu Metal | Turkiye Is vs. Bms Birlesik 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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