Correlation Between Trend Gayrimenkul and Suwen Tekstil
Can any of the company-specific risk be diversified away by investing in both Trend Gayrimenkul and Suwen Tekstil 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 Suwen Tekstil 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 Suwen Tekstil Sanayi, you can compare the effects of market volatilities on Trend Gayrimenkul and Suwen Tekstil 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 Suwen Tekstil. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trend Gayrimenkul and Suwen Tekstil.
Diversification Opportunities for Trend Gayrimenkul and Suwen Tekstil
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Trend and Suwen is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Trend Gayrimenkul Yatirim and Suwen Tekstil Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suwen Tekstil 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 Suwen Tekstil. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suwen Tekstil Sanayi has no effect on the direction of Trend Gayrimenkul i.e., Trend Gayrimenkul and Suwen Tekstil go up and down completely randomly.
Pair Corralation between Trend Gayrimenkul and Suwen Tekstil
Assuming the 90 days trading horizon Trend Gayrimenkul Yatirim is expected to under-perform the Suwen Tekstil. In addition to that, Trend Gayrimenkul is 1.52 times more volatile than Suwen Tekstil Sanayi. It trades about -0.13 of its total potential returns per unit of risk. Suwen Tekstil Sanayi is currently generating about -0.03 per unit of volatility. If you would invest 2,944 in Suwen Tekstil Sanayi on September 2, 2024 and sell it today you would lose (44.00) from holding Suwen Tekstil Sanayi or give up 1.49% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trend Gayrimenkul Yatirim vs. Suwen Tekstil Sanayi
Performance |
| Timeline |
| Trend Gayrimenkul Yatirim |
| Suwen Tekstil Sanayi |
Trend Gayrimenkul and Suwen Tekstil Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trend Gayrimenkul and Suwen Tekstil
The main advantage of trading using opposite Trend Gayrimenkul and Suwen Tekstil positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trend Gayrimenkul position performs unexpectedly, Suwen Tekstil 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 Suwen Tekstil will offset losses from the drop in Suwen Tekstil'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 |
| Suwen Tekstil vs. Rodrigo Tekstil Sanayi | Suwen Tekstil vs. Derluks Yatirim Holding | Suwen Tekstil vs. Brisa Bridgestone Sabanci | Suwen Tekstil vs. Dogus Gayrimenkul Yatirim |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |