Correlation Between Yapi Ve and Oylum Sinai
Can any of the company-specific risk be diversified away by investing in both Yapi Ve and Oylum Sinai 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 Oylum Sinai 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 Oylum Sinai Yatirimlar, you can compare the effects of market volatilities on Yapi Ve and Oylum Sinai 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 Oylum Sinai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yapi Ve and Oylum Sinai.
Diversification Opportunities for Yapi Ve and Oylum Sinai
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Yapi and Oylum is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Yapi ve Kredi and Oylum Sinai Yatirimlar in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oylum Sinai Yatirimlar 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 Oylum Sinai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oylum Sinai Yatirimlar has no effect on the direction of Yapi Ve i.e., Yapi Ve and Oylum Sinai go up and down completely randomly.
Pair Corralation between Yapi Ve and Oylum Sinai
Assuming the 90 days trading horizon Yapi ve Kredi is expected to generate 2.15 times more return on investment than Oylum Sinai. However, Yapi Ve is 2.15 times more volatile than Oylum Sinai Yatirimlar. It trades about 0.3 of its potential returns per unit of risk. Oylum Sinai Yatirimlar is currently generating about -0.38 per unit of risk. If you would invest 2,842 in Yapi ve Kredi on October 25, 2024 and sell it today you would earn a total of 490.00 from holding Yapi ve Kredi or generate 17.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Yapi ve Kredi vs. Oylum Sinai Yatirimlar
Performance |
| Timeline |
| Yapi ve Kredi |
| Oylum Sinai Yatirimlar |
Yapi Ve and Oylum Sinai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yapi Ve and Oylum Sinai
The main advantage of trading using opposite Yapi Ve and Oylum Sinai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yapi Ve position performs unexpectedly, Oylum Sinai 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 Oylum Sinai will offset losses from the drop in Oylum Sinai's long position.| Yapi Ve vs. E Data Teknoloji Pazarlama | Yapi Ve vs. KOC METALURJI | Yapi Ve vs. Qnb Finansbank AS | Yapi Ve vs. Cuhadaroglu Metal Sanayi |
| Oylum Sinai vs. Koc Holding AS | Oylum Sinai vs. Turkish Airlines | Oylum Sinai vs. Turkiye Garanti Bankasi | Oylum Sinai vs. Turkiye Petrol Rafinerileri |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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