Correlation Between Tekfen Holding and Logo Yazilim
Can any of the company-specific risk be diversified away by investing in both Tekfen Holding and Logo Yazilim 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 Tekfen Holding and Logo Yazilim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Tekfen Holding AS and Logo Yazilim Sanayi, you can compare the effects of market volatilities on Tekfen Holding and Logo Yazilim 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 Tekfen Holding with a short position of Logo Yazilim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tekfen Holding and Logo Yazilim.
Diversification Opportunities for Tekfen Holding and Logo Yazilim
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Tekfen and Logo is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Tekfen Holding AS and Logo Yazilim Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logo Yazilim Sanayi and Tekfen Holding 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 Tekfen Holding AS are associated (or correlated) with Logo Yazilim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logo Yazilim Sanayi has no effect on the direction of Tekfen Holding i.e., Tekfen Holding and Logo Yazilim go up and down completely randomly.
Pair Corralation between Tekfen Holding and Logo Yazilim
Assuming the 90 days trading horizon Tekfen Holding AS is expected to generate 0.98 times more return on investment than Logo Yazilim. However, Tekfen Holding AS is 1.02 times less risky than Logo Yazilim. It trades about 0.08 of its potential returns per unit of risk. Logo Yazilim Sanayi is currently generating about 0.07 per unit of risk. If you would invest 4,146 in Tekfen Holding AS on September 12, 2024 and sell it today you would earn a total of 3,684 from holding Tekfen Holding AS or generate 88.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tekfen Holding AS vs. Logo Yazilim Sanayi
Performance |
| Timeline |
| Tekfen Holding AS |
| Logo Yazilim Sanayi |
Tekfen Holding and Logo Yazilim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tekfen Holding and Logo Yazilim
The main advantage of trading using opposite Tekfen Holding and Logo Yazilim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tekfen Holding position performs unexpectedly, Logo Yazilim 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 Logo Yazilim will offset losses from the drop in Logo Yazilim's long position.| Tekfen Holding vs. Turkiye Sise ve | Tekfen Holding vs. Turkiye Petrol Rafinerileri | Tekfen Holding vs. Petkim Petrokimya Holding | Tekfen Holding vs. TAV Havalimanlari Holding |
| Logo Yazilim vs. Tofas Turk Otomobil | Logo Yazilim vs. Tekfen Holding AS | Logo Yazilim vs. Aksa Akrilik Kimya | Logo Yazilim vs. Vestel Beyaz Esya |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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