Correlation Between Yesil Yatirim and Hedef Holdings
Can any of the company-specific risk be diversified away by investing in both Yesil Yatirim and Hedef Holdings 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 Hedef Holdings 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 Hedef Holdings AS, you can compare the effects of market volatilities on Yesil Yatirim and Hedef Holdings 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 Hedef Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yesil Yatirim and Hedef Holdings.
Diversification Opportunities for Yesil Yatirim and Hedef Holdings
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Yesil and Hedef is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Yesil Yatirim Holding and Hedef Holdings AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hedef Holdings AS 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 Hedef Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hedef Holdings AS has no effect on the direction of Yesil Yatirim i.e., Yesil Yatirim and Hedef Holdings go up and down completely randomly.
Pair Corralation between Yesil Yatirim and Hedef Holdings
Assuming the 90 days trading horizon Yesil Yatirim is expected to generate 4.25 times less return on investment than Hedef Holdings. But when comparing it to its historical volatility, Yesil Yatirim Holding is 3.17 times less risky than Hedef Holdings. It trades about 0.02 of its potential returns per unit of risk. Hedef Holdings AS is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 424.00 in Hedef Holdings AS on September 5, 2024 and sell it today you would lose (114.00) from holding Hedef Holdings AS or give up 26.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yesil Yatirim Holding vs. Hedef Holdings AS
Performance |
| Timeline |
| Yesil Yatirim Holding |
| Hedef Holdings AS |
Yesil Yatirim and Hedef Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yesil Yatirim and Hedef Holdings
The main advantage of trading using opposite Yesil Yatirim and Hedef Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yesil Yatirim position performs unexpectedly, Hedef Holdings 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 Hedef Holdings will offset losses from the drop in Hedef Holdings' long position.| Yesil Yatirim vs. Gentas Genel Metal | Yesil Yatirim vs. Galatasaray Sportif Sinai | Yesil Yatirim vs. Cuhadaroglu Metal Sanayi | Yesil Yatirim vs. Koza Anadolu Metal |
| Hedef Holdings vs. Guler Yatirim Holding | Hedef Holdings vs. Yesil Yatirim Holding | Hedef Holdings vs. Hedef Girisim Sermayesi | Hedef Holdings vs. Is Yatirim Ortakligi |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Transaction History View history of all your transactions and understand their impact on performance |