Correlation Between Trend Gayrimenkul and Dogus Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and Dogus Gayrimenkul 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 Trend Gayrimenkul and Dogus Gayrimenkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Trend Gayrimenkul Yatirim and Dogus Gayrimenkul Yatirim, you can compare the effects of market volatilities on Trend Gayrimenkul and Dogus Gayrimenkul 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 Trend Gayrimenkul with a short position of Dogus Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and Dogus Gayrimenkul.
Diversification Opportunities for Trend Gayrimenkul and Dogus Gayrimenkul
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Trend and Dogus is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and Dogus Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dogus Gayrimenkul Yatirim and Trend Gayrimenkul 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 Trend Gayrimenkul Yatirim are associated (or correlated) with Dogus Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dogus Gayrimenkul Yatirim has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and Dogus Gayrimenkul go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and Dogus Gayrimenkul
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to generate 1.22 times more return on investment than Dogus Gayrimenkul. However, Trend Gayrimenkul is 1.22 times more volatile than Dogus Gayrimenkul Yatirim. It trades about 0.06 of its potential returns per unit of risk. Dogus Gayrimenkul Yatirim is currently generating about 0.04 per unit of risk. If you would invest 810.00 in Trend Gayrimenkul Yatirim on September 2, 2024 and sell it today you would earn a total of 335.00 from holding Trend Gayrimenkul Yatirim or generate 41.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trend Gayrimenkul Yatirim vs. Dogus Gayrimenkul Yatirim
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| Dogus Gayrimenkul Yatirim |
Trend Gayrimenkul and Dogus Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and Dogus Gayrimenkul
The main advantage of trading using opposite Trend Gayrimenkul and Dogus Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, Dogus Gayrimenkul 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 Dogus Gayrimenkul will offset losses from the drop in Dogus Gayrimenkul's long position.| Trend Gayrimenkul vs. Brisa Bridgestone Sabanci | Trend Gayrimenkul vs. Dogus Gayrimenkul Yatirim | Trend Gayrimenkul vs. IZDEMIR Enerji Elektrik | Trend Gayrimenkul vs. Logo Yazilim Sanayi |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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