Correlation Between Birlesim Muhendislik and Ral Yatirim
Can any of the company-specific risk be diversified away by investing in both Birlesim Muhendislik and Ral Yatirim 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 Birlesim Muhendislik and Ral Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Birlesim Muhendislik Isitma and Ral Yatirim Holding, you can compare the effects of market volatilities on Birlesim Muhendislik and Ral Yatirim 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 Birlesim Muhendislik with a short position of Ral Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Birlesim Muhendislik and Ral Yatirim.
Diversification Opportunities for Birlesim Muhendislik and Ral Yatirim
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Birlesim and Ral is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Birlesim Muhendislik Isitma and Ral Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ral Yatirim Holding and Birlesim Muhendislik 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 Birlesim Muhendislik Isitma are associated (or correlated) with Ral Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ral Yatirim Holding has no effect on the direction of Birlesim Muhendislik i.e., Birlesim Muhendislik and Ral Yatirim go up and down completely randomly.
Pair Corralation between Birlesim Muhendislik and Ral Yatirim
Assuming the 90 days trading horizon Birlesim Muhendislik Isitma is expected to under-perform the Ral Yatirim. In addition to that, Birlesim Muhendislik is 1.23 times more volatile than Ral Yatirim Holding. It trades about -0.11 of its total potential returns per unit of risk. Ral Yatirim Holding is currently generating about 0.66 per unit of volatility. If you would invest 13,360 in Ral Yatirim Holding on February 3, 2024 and sell it today you would earn a total of 5,340 from holding Ral Yatirim Holding or generate 39.97% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Birlesim Muhendislik Isitma vs. Ral Yatirim Holding
Performance |
Timeline |
Birlesim Muhendislik |
Ral Yatirim Holding |
Birlesim Muhendislik and Ral Yatirim Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Birlesim Muhendislik and Ral Yatirim
The main advantage of trading using opposite Birlesim Muhendislik and Ral Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Birlesim Muhendislik position performs unexpectedly, Ral Yatirim 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 Ral Yatirim will offset losses from the drop in Ral Yatirim's long position.Birlesim Muhendislik vs. Koza Anadolu Metal | Birlesim Muhendislik vs. Turkish Airlines | Birlesim Muhendislik vs. Cuhadaroglu Metal Sanayi | Birlesim Muhendislik vs. Gentas Genel Metal |
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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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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