Correlation Between Yesil Yapi and Gentas Genel
Can any of the company-specific risk be diversified away by investing in both Yesil Yapi and Gentas Genel 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 Yapi and Gentas Genel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Yesil Yapi Endustrisi and Gentas Genel Metal, you can compare the effects of market volatilities on Yesil Yapi and Gentas Genel 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 Yapi with a short position of Gentas Genel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yesil Yapi and Gentas Genel.
Diversification Opportunities for Yesil Yapi and Gentas Genel
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Yesil and Gentas is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Yesil Yapi Endustrisi and Gentas Genel Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentas Genel Metal and Yesil Yapi 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 Yapi Endustrisi are associated (or correlated) with Gentas Genel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentas Genel Metal has no effect on the direction of Yesil Yapi i.e., Yesil Yapi and Gentas Genel go up and down completely randomly.
Pair Corralation between Yesil Yapi and Gentas Genel
Assuming the 90 days trading horizon Yesil Yapi Endustrisi is expected to generate 1.27 times more return on investment than Gentas Genel. However, Yesil Yapi is 1.27 times more volatile than Gentas Genel Metal. It trades about 0.06 of its potential returns per unit of risk. Gentas Genel Metal is currently generating about 0.05 per unit of risk. If you would invest 229.00 in Yesil Yapi Endustrisi on August 29, 2024 and sell it today you would earn a total of 305.00 from holding Yesil Yapi Endustrisi or generate 133.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yesil Yapi Endustrisi vs. Gentas Genel Metal
Performance |
| Timeline |
| Yesil Yapi Endustrisi |
| Gentas Genel Metal |
Yesil Yapi and Gentas Genel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yesil Yapi and Gentas Genel
The main advantage of trading using opposite Yesil Yapi and Gentas Genel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yesil Yapi position performs unexpectedly, Gentas Genel 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 Gentas Genel will offset losses from the drop in Gentas Genel's long position.| Yesil Yapi vs. Gentas Genel Metal | Yesil Yapi vs. Cuhadaroglu Metal Sanayi | Yesil Yapi vs. Galatasaray Sportif Sinai | Yesil Yapi vs. Koza Anadolu Metal |
| Gentas Genel vs. Haci Omer Sabanci | Gentas Genel vs. Turkiye Petrol Rafinerileri | Gentas Genel vs. Turkiye Garanti Bankasi | Gentas Genel vs. Akbank 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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