Correlation Between Trend Gayrimenkul and Koza Altin
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and Koza Altin 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 Altin 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 Altin Isletmeleri, you can compare the effects of market volatilities on Trend Gayrimenkul and Koza Altin 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 Altin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and Koza Altin.
Diversification Opportunities for Trend Gayrimenkul and Koza Altin
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Trend and Koza is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and Koza Altin Isletmeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koza Altin Isletmeleri 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 Altin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koza Altin Isletmeleri has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and Koza Altin go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and Koza Altin
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to under-perform the Koza Altin. In addition to that, Trend Gayrimenkul is 1.06 times more volatile than Koza Altin Isletmeleri. It trades about -0.13 of its total potential returns per unit of risk. Koza Altin Isletmeleri is currently generating about 0.29 per unit of volatility. If you would invest 1,931 in Koza Altin Isletmeleri on September 3, 2024 and sell it today you would earn a total of 341.00 from holding Koza Altin Isletmeleri or generate 17.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trend Gayrimenkul Yatirim vs. Koza Altin Isletmeleri
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| Koza Altin Isletmeleri |
Trend Gayrimenkul and Koza Altin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and Koza Altin
The main advantage of trading using opposite Trend Gayrimenkul and Koza Altin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, Koza Altin 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 Altin will offset losses from the drop in Koza Altin's long position.| Trend Gayrimenkul vs. Koza Anadolu Metal | Trend Gayrimenkul vs. Creditwest Faktoring AS | Trend Gayrimenkul vs. Qnb Finansbank AS | Trend Gayrimenkul vs. Cuhadaroglu Metal Sanayi |
| Koza Altin vs. Qnb Finansbank AS | Koza Altin vs. Turkiye Kalkinma Bankasi | Koza Altin vs. Kocaer Celik Sanayi | Koza Altin vs. Cimentas Izmir Cimento |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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