Correlation Between Akcansa Cimento and Global Menkul

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Can any of the company-specific risk be diversified away by investing in both Akcansa Cimento and Global Menkul 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 Akcansa Cimento and Global Menkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akcansa Cimento Sanayi and Global Menkul Degerler, you can compare the effects of market volatilities on Akcansa Cimento and Global Menkul 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 Akcansa Cimento with a short position of Global Menkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akcansa Cimento and Global Menkul.

Diversification Opportunities for Akcansa Cimento and Global Menkul

AkcansaGlobalDiversified AwayAkcansaGlobalDiversified Away100%
0.52
  Correlation Coefficient

Very weak diversification

The 3 months correlation between Akcansa and Global is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Akcansa Cimento Sanayi and Global Menkul Degerler in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Menkul Degerler and Akcansa Cimento 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 Akcansa Cimento Sanayi are associated (or correlated) with Global Menkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Menkul Degerler has no effect on the direction of Akcansa Cimento i.e., Akcansa Cimento and Global Menkul go up and down completely randomly.

Pair Corralation between Akcansa Cimento and Global Menkul

Assuming the 90 days trading horizon Akcansa Cimento Sanayi is expected to generate 0.59 times more return on investment than Global Menkul. However, Akcansa Cimento Sanayi is 1.69 times less risky than Global Menkul. It trades about 0.15 of its potential returns per unit of risk. Global Menkul Degerler is currently generating about 0.05 per unit of risk. If you would invest  15,090  in Akcansa Cimento Sanayi on October 21, 2024 and sell it today you would earn a total of  3,370  from holding Akcansa Cimento Sanayi or generate 22.33% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Akcansa Cimento Sanayi  vs.  Global Menkul Degerler

 Performance 
JavaScript chart by amCharts 3.21.15NovDec2025 020406080
JavaScript chart by amCharts 3.21.15AKCNS GLBMD
       Timeline  
Akcansa Cimento Sanayi 

Risk-Adjusted Performance

11 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in Akcansa Cimento Sanayi are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent forward indicators, Akcansa Cimento demonstrated solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan150155160165170175180185190
Global Menkul Degerler 

Risk-Adjusted Performance

4 of 100

 
Weak
 
Strong
Insignificant
Compared to the overall equity markets, risk-adjusted returns on investments in Global Menkul Degerler are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent forward indicators, Global Menkul demonstrated solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan101112131415161718

Akcansa Cimento and Global Menkul Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-7.3-5.47-3.63-1.80.03241.913.865.87.74 0.020.030.040.050.060.07
JavaScript chart by amCharts 3.21.15AKCNS GLBMD
       Returns  

Pair Trading with Akcansa Cimento and Global Menkul

The main advantage of trading using opposite Akcansa Cimento and Global Menkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akcansa Cimento position performs unexpectedly, Global Menkul 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 Global Menkul will offset losses from the drop in Global Menkul's long position.
The idea behind Akcansa Cimento Sanayi and Global Menkul Degerler 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.
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 Transaction History module to view history of all your transactions and understand their impact on performance.

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