Correlation Between Trend Gayrimenkul and Ege Gubre
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and Ege Gubre 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 Ege Gubre 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 Ege Gubre Sanayi, you can compare the effects of market volatilities on Trend Gayrimenkul and Ege Gubre 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 Ege Gubre. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and Ege Gubre.
Diversification Opportunities for Trend Gayrimenkul and Ege Gubre
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Trend and Ege is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and Ege Gubre Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ege Gubre Sanayi 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 Ege Gubre. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ege Gubre Sanayi has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and Ege Gubre go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and Ege Gubre
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to generate 1.16 times more return on investment than Ege Gubre. However, Trend Gayrimenkul is 1.16 times more volatile than Ege Gubre Sanayi. It trades about 0.06 of its potential returns per unit of risk. Ege Gubre Sanayi 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 Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trend Gayrimenkul Yatirim vs. Ege Gubre Sanayi
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| Ege Gubre Sanayi |
Trend Gayrimenkul and Ege Gubre Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and Ege Gubre
The main advantage of trading using opposite Trend Gayrimenkul and Ege Gubre positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, Ege Gubre 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 Ege Gubre will offset losses from the drop in Ege Gubre'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 |
| Ege Gubre vs. Gentas Genel Metal | Ege Gubre vs. Sekerbank TAS | Ege Gubre vs. Politeknik Metal Sanayi | Ege Gubre 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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