Correlation Between Unlu Yatirim and Birikim Varlik
Can any of the company-specific risk be diversified away by investing in both Unlu Yatirim and Birikim Varlik 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 Unlu Yatirim and Birikim Varlik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Unlu Yatirim Holding and Birikim Varlik Yonetim, you can compare the effects of market volatilities on Unlu Yatirim and Birikim Varlik 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 Unlu Yatirim with a short position of Birikim Varlik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unlu Yatirim and Birikim Varlik.
Diversification Opportunities for Unlu Yatirim and Birikim Varlik
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Unlu and Birikim is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Unlu Yatirim Holding and Birikim Varlik Yonetim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Birikim Varlik Yonetim and Unlu Yatirim 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 Unlu Yatirim Holding are associated (or correlated) with Birikim Varlik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Birikim Varlik Yonetim has no effect on the direction of Unlu Yatirim i.e., Unlu Yatirim and Birikim Varlik go up and down completely randomly.
Pair Corralation between Unlu Yatirim and Birikim Varlik
Assuming the 90 days trading horizon Unlu Yatirim Holding is expected to generate 0.64 times more return on investment than Birikim Varlik. However, Unlu Yatirim Holding is 1.57 times less risky than Birikim Varlik. It trades about -0.02 of its potential returns per unit of risk. Birikim Varlik Yonetim is currently generating about -0.03 per unit of risk. If you would invest 1,607 in Unlu Yatirim Holding on September 1, 2024 and sell it today you would lose (138.00) from holding Unlu Yatirim Holding or give up 8.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Unlu Yatirim Holding vs. Birikim Varlik Yonetim
Performance |
| Timeline |
| Unlu Yatirim Holding |
| Birikim Varlik Yonetim |
Unlu Yatirim and Birikim Varlik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unlu Yatirim and Birikim Varlik
The main advantage of trading using opposite Unlu Yatirim and Birikim Varlik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unlu Yatirim position performs unexpectedly, Birikim Varlik 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 Birikim Varlik will offset losses from the drop in Birikim Varlik's long position.| Unlu Yatirim vs. Politeknik Metal Sanayi | Unlu Yatirim vs. Qnb Finansbank AS | Unlu Yatirim vs. Gentas Genel Metal | Unlu Yatirim vs. MEGA METAL |
| Birikim Varlik vs. Verusa Holding AS | Birikim Varlik vs. Guler Yatirim Holding | Birikim Varlik vs. Verusaturk Girisim Sermayesi | Birikim Varlik vs. Yesil Yatirim Holding |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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