Correlation Between Sekerbank TAS and E Data
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and E Data 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 Sekerbank TAS and E Data into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and E Data Teknoloji Pazarlama, you can compare the effects of market volatilities on Sekerbank TAS and E Data 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 Sekerbank TAS with a short position of E Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and E Data.
Diversification Opportunities for Sekerbank TAS and E Data
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sekerbank and EDATA is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and E Data Teknoloji Pazarlama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Data Teknoloji and Sekerbank TAS 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 Sekerbank TAS are associated (or correlated) with E Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Data Teknoloji has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and E Data go up and down completely randomly.
Pair Corralation between Sekerbank TAS and E Data
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 1.31 times more return on investment than E Data. However, Sekerbank TAS is 1.31 times more volatile than E Data Teknoloji Pazarlama. It trades about 0.22 of its potential returns per unit of risk. E Data Teknoloji Pazarlama is currently generating about -0.17 per unit of risk. If you would invest 414.00 in Sekerbank TAS on August 30, 2024 and sell it today you would earn a total of 53.00 from holding Sekerbank TAS or generate 12.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sekerbank TAS vs. E Data Teknoloji Pazarlama
Performance |
| Timeline |
| Sekerbank TAS |
| E Data Teknoloji |
Sekerbank TAS and E Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and E Data
The main advantage of trading using opposite Sekerbank TAS and E Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, E Data 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 E Data will offset losses from the drop in E Data's long position.| Sekerbank TAS vs. Turkiye Sinai Kalkinma | Sekerbank TAS vs. Yapi ve Kredi | Sekerbank TAS vs. Kardemir Karabuk Demir | Sekerbank TAS vs. Turkiye Is Bankasi |
| E Data vs. Silverline Endustri ve | E Data vs. MEGA METAL | E Data vs. Akbank TAS | E Data vs. Mackolik Internet Hizmetleri |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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