Correlation Between Yesil Yatirim and Frigo Pak
Can any of the company-specific risk be diversified away by investing in both Yesil Yatirim and Frigo Pak 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 Yesil Yatirim and Frigo Pak into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Yesil Yatirim Holding and Frigo Pak Gida Maddeleri, you can compare the effects of market volatilities on Yesil Yatirim and Frigo Pak 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 Yesil Yatirim with a short position of Frigo Pak. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yesil Yatirim and Frigo Pak.
Diversification Opportunities for Yesil Yatirim and Frigo Pak
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Yesil and Frigo is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Yesil Yatirim Holding and Frigo Pak Gida Maddeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Frigo Pak Gida and Yesil 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 Yesil Yatirim Holding are associated (or correlated) with Frigo Pak. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Frigo Pak Gida has no effect on the direction of Yesil Yatirim i.e., Yesil Yatirim and Frigo Pak go up and down completely randomly.
Pair Corralation between Yesil Yatirim and Frigo Pak
Assuming the 90 days trading horizon Yesil Yatirim Holding is expected to under-perform the Frigo Pak. But the stock apears to be less risky and, when comparing its historical volatility, Yesil Yatirim Holding is 1.61 times less risky than Frigo Pak. The stock trades about -0.2 of its potential returns per unit of risk. The Frigo Pak Gida Maddeleri is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 811.00 in Frigo Pak Gida Maddeleri on November 3, 2024 and sell it today you would earn a total of 38.00 from holding Frigo Pak Gida Maddeleri or generate 4.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yesil Yatirim Holding vs. Frigo Pak Gida Maddeleri
Performance |
| Timeline |
| Yesil Yatirim Holding |
| Frigo Pak Gida |
Yesil Yatirim and Frigo Pak Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yesil Yatirim and Frigo Pak
The main advantage of trading using opposite Yesil Yatirim and Frigo Pak positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yesil Yatirim position performs unexpectedly, Frigo Pak 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 Frigo Pak will offset losses from the drop in Frigo Pak's long position.| Yesil Yatirim vs. Cuhadaroglu Metal Sanayi | Yesil Yatirim vs. Gentas Genel Metal | Yesil Yatirim vs. Sekerbank TAS | Yesil Yatirim vs. Bms Birlesik Metal |
| Frigo Pak vs. Politeknik Metal Sanayi | Frigo Pak vs. Cuhadaroglu Metal Sanayi | Frigo Pak vs. KOC METALURJI | Frigo Pak 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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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