Correlation Between Trabzonspor Sportif and ICU Girisim
Can any of the company-specific risk be diversified away by investing in both Trabzonspor Sportif and ICU Girisim 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 Trabzonspor Sportif and ICU Girisim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Trabzonspor Sportif Yatirim and ICU Girisim Sermayesi, you can compare the effects of market volatilities on Trabzonspor Sportif and ICU Girisim 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 Trabzonspor Sportif with a short position of ICU Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trabzonspor Sportif and ICU Girisim.
Diversification Opportunities for Trabzonspor Sportif and ICU Girisim
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Trabzonspor and ICU is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Trabzonspor Sportif Yatirim and ICU Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ICU Girisim Sermayesi and Trabzonspor Sportif 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 Trabzonspor Sportif Yatirim are associated (or correlated) with ICU Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ICU Girisim Sermayesi has no effect on the direction of Trabzonspor Sportif i.e., Trabzonspor Sportif and ICU Girisim go up and down completely randomly.
Pair Corralation between Trabzonspor Sportif and ICU Girisim
Assuming the 90 days trading horizon Trabzonspor Sportif Yatirim is expected to under-perform the ICU Girisim. But the stock apears to be less risky and, when comparing its historical volatility, Trabzonspor Sportif Yatirim is 1.65 times less risky than ICU Girisim. The stock trades about -0.02 of its potential returns per unit of risk. The ICU Girisim Sermayesi is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 907.00 in ICU Girisim Sermayesi on September 25, 2024 and sell it today you would earn a total of 1,713 from holding ICU Girisim Sermayesi or generate 188.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trabzonspor Sportif Yatirim vs. ICU Girisim Sermayesi
Performance |
| Timeline |
| Trabzonspor Sportif |
| ICU Girisim Sermayesi |
Trabzonspor Sportif and ICU Girisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trabzonspor Sportif and ICU Girisim
The main advantage of trading using opposite Trabzonspor Sportif and ICU Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trabzonspor Sportif position performs unexpectedly, ICU Girisim 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 ICU Girisim will offset losses from the drop in ICU Girisim's long position.| Trabzonspor Sportif vs. Koza Anadolu Metal | Trabzonspor Sportif vs. Bms Birlesik Metal | Trabzonspor Sportif vs. Cuhadaroglu Metal Sanayi | Trabzonspor Sportif vs. Politeknik Metal Sanayi |
| ICU Girisim vs. Koza Anadolu Metal | ICU Girisim vs. Politeknik Metal Sanayi | ICU Girisim vs. Cuhadaroglu Metal Sanayi | ICU Girisim vs. Trabzonspor Sportif 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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