Correlation Between Trend Gayrimenkul and SASA Polyester
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and SASA Polyester 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 SASA Polyester 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 SASA Polyester Sanayi, you can compare the effects of market volatilities on Trend Gayrimenkul and SASA Polyester 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 SASA Polyester. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and SASA Polyester.
Diversification Opportunities for Trend Gayrimenkul and SASA Polyester
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Trend and SASA is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and SASA Polyester Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SASA Polyester 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 SASA Polyester. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SASA Polyester Sanayi has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and SASA Polyester go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and SASA Polyester
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to under-perform the SASA Polyester. In addition to that, Trend Gayrimenkul is 1.46 times more volatile than SASA Polyester Sanayi. It trades about -0.14 of its total potential returns per unit of risk. SASA Polyester Sanayi is currently generating about 0.23 per unit of volatility. If you would invest 384.00 in SASA Polyester Sanayi on September 15, 2024 and sell it today you would earn a total of 48.00 from holding SASA Polyester Sanayi or generate 12.5% 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. SASA Polyester Sanayi
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| SASA Polyester Sanayi |
Trend Gayrimenkul and SASA Polyester Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and SASA Polyester
The main advantage of trading using opposite Trend Gayrimenkul and SASA Polyester positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, SASA Polyester 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 SASA Polyester will offset losses from the drop in SASA Polyester's long position.| Trend Gayrimenkul vs. Cuhadaroglu Metal Sanayi | Trend Gayrimenkul vs. Bms Birlesik Metal | Trend Gayrimenkul vs. MEGA METAL | Trend Gayrimenkul vs. Creditwest Faktoring AS |
| SASA Polyester vs. Ayes Celik Hasir | SASA Polyester vs. Trend Gayrimenkul Yatirim | SASA Polyester vs. Ege Endustri ve | SASA Polyester vs. Alarko Carrier Sanayi |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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