Correlation Between Yunsa Yunlu and GSD Holding
Can any of the company-specific risk be diversified away by investing in both Yunsa Yunlu and GSD Holding 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 Yunsa Yunlu and GSD Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Yunsa Yunlu Sanayi and GSD Holding AS, you can compare the effects of market volatilities on Yunsa Yunlu and GSD Holding 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 Yunsa Yunlu with a short position of GSD Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yunsa Yunlu and GSD Holding.
Diversification Opportunities for Yunsa Yunlu and GSD Holding
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Yunsa and GSD is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Yunsa Yunlu Sanayi and GSD Holding AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GSD Holding AS and Yunsa Yunlu 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 Yunsa Yunlu Sanayi are associated (or correlated) with GSD Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GSD Holding AS has no effect on the direction of Yunsa Yunlu i.e., Yunsa Yunlu and GSD Holding go up and down completely randomly.
Pair Corralation between Yunsa Yunlu and GSD Holding
Assuming the 90 days trading horizon Yunsa Yunlu Sanayi is expected to under-perform the GSD Holding. In addition to that, Yunsa Yunlu is 1.05 times more volatile than GSD Holding AS. It trades about -0.55 of its total potential returns per unit of risk. GSD Holding AS is currently generating about -0.32 per unit of volatility. If you would invest 370.00 in GSD Holding AS on November 28, 2024 and sell it today you would lose (31.00) from holding GSD Holding AS or give up 8.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yunsa Yunlu Sanayi vs. GSD Holding AS
Performance |
| Timeline |
| Yunsa Yunlu Sanayi |
| GSD Holding AS |
Yunsa Yunlu and GSD Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yunsa Yunlu and GSD Holding
The main advantage of trading using opposite Yunsa Yunlu and GSD Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yunsa Yunlu position performs unexpectedly, GSD Holding 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 GSD Holding will offset losses from the drop in GSD Holding's long position.| Yunsa Yunlu vs. Mackolik Internet Hizmetleri | Yunsa Yunlu vs. Sekerbank TAS | Yunsa Yunlu vs. Cuhadaroglu Metal Sanayi | Yunsa Yunlu vs. Koza Anadolu Metal |
| GSD Holding vs. Cuhadaroglu Metal Sanayi | GSD Holding vs. MEGA METAL | GSD Holding vs. Trabzonspor Sportif Yatirim | GSD Holding vs. KOC METALURJI |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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