Correlation Between Beyaz Filo and Qnb Finansbank
Can any of the company-specific risk be diversified away by investing in both Beyaz Filo and Qnb Finansbank 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 Beyaz Filo and Qnb Finansbank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Beyaz Filo Oto and Qnb Finansbank AS, you can compare the effects of market volatilities on Beyaz Filo and Qnb Finansbank 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 Beyaz Filo with a short position of Qnb Finansbank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beyaz Filo and Qnb Finansbank.
Diversification Opportunities for Beyaz Filo and Qnb Finansbank
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Beyaz and Qnb is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Beyaz Filo Oto and Qnb Finansbank AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qnb Finansbank AS and Beyaz Filo 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 Beyaz Filo Oto are associated (or correlated) with Qnb Finansbank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qnb Finansbank AS has no effect on the direction of Beyaz Filo i.e., Beyaz Filo and Qnb Finansbank go up and down completely randomly.
Pair Corralation between Beyaz Filo and Qnb Finansbank
Assuming the 90 days trading horizon Beyaz Filo Oto is expected to under-perform the Qnb Finansbank. But the stock apears to be less risky and, when comparing its historical volatility, Beyaz Filo Oto is 1.61 times less risky than Qnb Finansbank. The stock trades about -0.13 of its potential returns per unit of risk. The Qnb Finansbank AS is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 26,950 in Qnb Finansbank AS on December 27, 2024 and sell it today you would earn a total of 8,050 from holding Qnb Finansbank AS or generate 29.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Beyaz Filo Oto vs. Qnb Finansbank AS
Performance |
Timeline |
Beyaz Filo Oto |
Qnb Finansbank AS |
Beyaz Filo and Qnb Finansbank Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Beyaz Filo and Qnb Finansbank
The main advantage of trading using opposite Beyaz Filo and Qnb Finansbank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beyaz Filo position performs unexpectedly, Qnb Finansbank 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 Qnb Finansbank will offset losses from the drop in Qnb Finansbank's long position.Beyaz Filo vs. Gentas Genel Metal | Beyaz Filo vs. Turkiye Kalkinma Bankasi | Beyaz Filo vs. Datagate Bilgisayar Malzemeleri | Beyaz Filo vs. Koza Anadolu Metal |
Qnb Finansbank vs. Gentas Genel Metal | Qnb Finansbank vs. MEGA METAL | Qnb Finansbank vs. KOC METALURJI | Qnb Finansbank vs. ICBC Turkey Bank |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |