Correlation Between Trend Gayrimenkul and Koza Anadolu
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and Koza Anadolu 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 Koza Anadolu 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 Koza Anadolu Metal, you can compare the effects of market volatilities on Trend Gayrimenkul and Koza Anadolu 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 Koza Anadolu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and Koza Anadolu.
Diversification Opportunities for Trend Gayrimenkul and Koza Anadolu
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Trend and Koza is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and Koza Anadolu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koza Anadolu Metal 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 Koza Anadolu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koza Anadolu Metal has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and Koza Anadolu go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and Koza Anadolu
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to under-perform the Koza Anadolu. But the stock apears to be less risky and, when comparing its historical volatility, Trend Gayrimenkul Yatirim is 1.06 times less risky than Koza Anadolu. The stock trades about -0.01 of its potential returns per unit of risk. The Koza Anadolu Metal is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 5,050 in Koza Anadolu Metal on September 2, 2024 and sell it today you would earn a total of 1,995 from holding Koza Anadolu Metal or generate 39.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trend Gayrimenkul Yatirim vs. Koza Anadolu Metal
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| Koza Anadolu Metal |
Trend Gayrimenkul and Koza Anadolu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and Koza Anadolu
The main advantage of trading using opposite Trend Gayrimenkul and Koza Anadolu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, Koza Anadolu 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 Koza Anadolu will offset losses from the drop in Koza Anadolu'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 |
| Koza Anadolu vs. Trend Gayrimenkul Yatirim | Koza Anadolu vs. Trabzon Liman Isletmeciligi | Koza Anadolu vs. Halk Gayrimenkul Yatirim | Koza Anadolu vs. Inveo Yatirim Holding |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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