Correlation Between Trend Gayrimenkul and Kartonsan Karton
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and Kartonsan Karton 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 Kartonsan Karton 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 Kartonsan Karton Sanayi, you can compare the effects of market volatilities on Trend Gayrimenkul and Kartonsan Karton 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 Kartonsan Karton. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and Kartonsan Karton.
Diversification Opportunities for Trend Gayrimenkul and Kartonsan Karton
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Trend and Kartonsan is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and Kartonsan Karton Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kartonsan Karton 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 Kartonsan Karton. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kartonsan Karton Sanayi has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and Kartonsan Karton go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and Kartonsan Karton
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to generate 2.27 times more return on investment than Kartonsan Karton. However, Trend Gayrimenkul is 2.27 times more volatile than Kartonsan Karton Sanayi. It trades about -0.08 of its potential returns per unit of risk. Kartonsan Karton Sanayi is currently generating about -0.21 per unit of risk. If you would invest 1,576 in Trend Gayrimenkul Yatirim on December 1, 2024 and sell it today you would lose (204.00) from holding Trend Gayrimenkul Yatirim or give up 12.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Trend Gayrimenkul Yatirim vs. Kartonsan Karton Sanayi
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| Kartonsan Karton Sanayi |
Trend Gayrimenkul and Kartonsan Karton Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and Kartonsan Karton
The main advantage of trading using opposite Trend Gayrimenkul and Kartonsan Karton positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, Kartonsan Karton 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 Kartonsan Karton will offset losses from the drop in Kartonsan Karton's long position.| Trend Gayrimenkul vs. KOC METALURJI | Trend Gayrimenkul vs. Sodas Sodyum Sanayi | Trend Gayrimenkul vs. Datagate Bilgisayar Malzemeleri | Trend Gayrimenkul vs. Akbank TAS |
| Kartonsan Karton vs. Ege Endustri ve | Kartonsan Karton vs. Otokar Otomotiv ve | Kartonsan Karton vs. BIM Birlesik Magazalar | Kartonsan Karton vs. Alkim Alkali Kimya |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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