Correlation Between SASA Polyester and Haci Omer

Can any of the company-specific risk be diversified away by investing in both SASA Polyester and Haci Omer 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 SASA Polyester and Haci Omer into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between SASA Polyester Sanayi and Haci Omer Sabanci, you can compare the effects of market volatilities on SASA Polyester and Haci Omer 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 SASA Polyester with a short position of Haci Omer. Check out your portfolio center. Please also check ongoing floating volatility patterns of SASA Polyester and Haci Omer.

Diversification Opportunities for SASA Polyester and Haci Omer

-0.59

Correlation Coefficient

SASA Polyester  Haci Omer

Excellent diversification

The 3 months correlation between SASA and Haci is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding SASA Polyester Sanayi and Haci Omer Sabanci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haci Omer Sabanci and SASA Polyester 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 SASA Polyester Sanayi are associated (or correlated) with Haci Omer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haci Omer Sabanci has no effect on the direction of SASA Polyester i.e., SASA Polyester and Haci Omer go up and down completely randomly.

Pair Corralation between SASA Polyester and Haci Omer

Assuming the 90 days trading horizon SASA Polyester Sanayi is expected to under-perform the Haci Omer. But the stock apears to be less risky and, when comparing its historical volatility, SASA Polyester Sanayi is 1.05 times less risky than Haci Omer. The stock trades about -0.17 of its potential returns per unit of risk. The Haci Omer Sabanci is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  7,685  in Haci Omer Sabanci on April 20, 2025 and sell it today you would earn a total of  1,470  from holding Haci Omer Sabanci or generate 19.13% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

SASA Polyester Sanayi  vs.  Haci Omer Sabanci

SASA Polyester Sanayi

Risk-Adjusted Performance

Very Weak

Over the last 90 days SASA Polyester Sanayi has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of inconsistent performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in August 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Haci Omer Sabanci

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Haci Omer Sabanci are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent forward indicators, Haci Omer demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with SASA Polyester and Haci Omer

The main advantage of trading using opposite SASA Polyester and Haci Omer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SASA Polyester position performs unexpectedly, Haci Omer 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 Haci Omer will offset losses from the drop in Haci Omer's long position.

The idea behind SASA Polyester Sanayi and Haci Omer Sabanci pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.