Correlation Between TSKB Gayrimenkul and Derluks Yatirim
Can any of the company-specific risk be diversified away by investing in both TSKB Gayrimenkul and Derluks Yatirim 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 TSKB Gayrimenkul and Derluks Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TSKB Gayrimenkul Yatirim and Derluks Yatirim Holding, you can compare the effects of market volatilities on TSKB Gayrimenkul and Derluks Yatirim 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 TSKB Gayrimenkul with a short position of Derluks Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of TSKB Gayrimenkul and Derluks Yatirim.
Diversification Opportunities for TSKB Gayrimenkul and Derluks Yatirim
-0.91 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between TSKB and Derluks is -0.91. Overlapping area represents the amount of risk that can be diversified away by holding TSKB Gayrimenkul Yatirim and Derluks Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Derluks Yatirim Holding and TSKB 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 TSKB Gayrimenkul Yatirim are associated (or correlated) with Derluks Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Derluks Yatirim Holding has no effect on the direction of TSKB Gayrimenkul i.e., TSKB Gayrimenkul and Derluks Yatirim go up and down completely randomly.
Pair Corralation between TSKB Gayrimenkul and Derluks Yatirim
Assuming the 90 days trading horizon TSKB Gayrimenkul Yatirim is expected to under-perform the Derluks Yatirim. But the stock apears to be less risky and, when comparing its historical volatility, TSKB Gayrimenkul Yatirim is 1.29 times less risky than Derluks Yatirim. The stock trades about -0.24 of its potential returns per unit of risk. The Derluks Yatirim Holding is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 1,816 in Derluks Yatirim Holding on November 28, 2024 and sell it today you would earn a total of 200.00 from holding Derluks Yatirim Holding or generate 11.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
TSKB Gayrimenkul Yatirim vs. Derluks Yatirim Holding
Performance |
| Timeline |
| TSKB Gayrimenkul Yatirim |
| Derluks Yatirim Holding |
TSKB Gayrimenkul and Derluks Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TSKB Gayrimenkul and Derluks Yatirim
The main advantage of trading using opposite TSKB Gayrimenkul and Derluks Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TSKB Gayrimenkul position performs unexpectedly, Derluks Yatirim 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 Derluks Yatirim will offset losses from the drop in Derluks Yatirim's long position.| TSKB Gayrimenkul vs. Creditwest Faktoring AS | TSKB Gayrimenkul vs. KOC METALURJI | TSKB Gayrimenkul vs. Gentas Genel Metal | TSKB Gayrimenkul vs. Galatasaray Sportif Sinai |
| Derluks Yatirim vs. Gentas Genel Metal | Derluks Yatirim vs. Politeknik Metal Sanayi | Derluks Yatirim vs. MEGA METAL | Derluks Yatirim vs. Sekerbank TAS |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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