Correlation Between Sekerbank TAS and Pinar Su
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and Pinar Su 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 Pinar Su into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and Pinar Su Sanayi, you can compare the effects of market volatilities on Sekerbank TAS and Pinar Su 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 Pinar Su. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and Pinar Su.
Diversification Opportunities for Sekerbank TAS and Pinar Su
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sekerbank and Pinar is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and Pinar Su Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pinar Su Sanayi 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 Pinar Su. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pinar Su Sanayi has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and Pinar Su go up and down completely randomly.
Pair Corralation between Sekerbank TAS and Pinar Su
Assuming the 90 days trading horizon Sekerbank TAS is expected to under-perform the Pinar Su. In addition to that, Sekerbank TAS is 1.74 times more volatile than Pinar Su Sanayi. It trades about -0.31 of its total potential returns per unit of risk. Pinar Su Sanayi is currently generating about -0.07 per unit of volatility. If you would invest 683.00 in Pinar Su Sanayi on November 5, 2024 and sell it today you would lose (20.00) from holding Pinar Su Sanayi or give up 2.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sekerbank TAS vs. Pinar Su Sanayi
Performance |
| Timeline |
| Sekerbank TAS |
| Pinar Su Sanayi |
Sekerbank TAS and Pinar Su Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and Pinar Su
The main advantage of trading using opposite Sekerbank TAS and Pinar Su positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, Pinar Su 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 Pinar Su will offset losses from the drop in Pinar Su'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 |
| Pinar Su vs. Politeknik Metal Sanayi | Pinar Su vs. Gentas Genel Metal | Pinar Su vs. Cuhadaroglu Metal Sanayi | Pinar Su 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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