Correlation Between Yapi Ve and Emlak Konut
Can any of the company-specific risk be diversified away by investing in both Yapi Ve and Emlak Konut 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 Yapi Ve and Emlak Konut into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Yapi ve Kredi and Emlak Konut Gayrimenkul, you can compare the effects of market volatilities on Yapi Ve and Emlak Konut 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 Yapi Ve with a short position of Emlak Konut. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yapi Ve and Emlak Konut.
Diversification Opportunities for Yapi Ve and Emlak Konut
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Yapi and Emlak is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Yapi ve Kredi and Emlak Konut Gayrimenkul in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emlak Konut Gayrimenkul and Yapi Ve 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 Yapi ve Kredi are associated (or correlated) with Emlak Konut. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emlak Konut Gayrimenkul has no effect on the direction of Yapi Ve i.e., Yapi Ve and Emlak Konut go up and down completely randomly.
Pair Corralation between Yapi Ve and Emlak Konut
Assuming the 90 days trading horizon Yapi ve Kredi is expected to under-perform the Emlak Konut. In addition to that, Yapi Ve is 1.03 times more volatile than Emlak Konut Gayrimenkul. It trades about -0.08 of its total potential returns per unit of risk. Emlak Konut Gayrimenkul is currently generating about 0.24 per unit of volatility. If you would invest 1,388 in Emlak Konut Gayrimenkul on November 5, 2024 and sell it today you would earn a total of 139.00 from holding Emlak Konut Gayrimenkul or generate 10.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yapi ve Kredi vs. Emlak Konut Gayrimenkul
Performance |
| Timeline |
| Yapi ve Kredi |
| Emlak Konut Gayrimenkul |
Yapi Ve and Emlak Konut Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yapi Ve and Emlak Konut
The main advantage of trading using opposite Yapi Ve and Emlak Konut positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yapi Ve position performs unexpectedly, Emlak Konut 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 Emlak Konut will offset losses from the drop in Emlak Konut's long position.| Yapi Ve vs. Bms Birlesik Metal | Yapi Ve vs. Turkish Airlines | Yapi Ve vs. Akcansa Cimento Sanayi | Yapi Ve vs. Politeknik Metal Sanayi |
| Emlak Konut vs. Yapi ve Kredi | Emlak Konut vs. Petkim Petrokimya Holding | Emlak Konut vs. Turkiye Is Bankasi | Emlak Konut vs. Kardemir Karabuk Demir |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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