Correlation Between Bms Birlesik and Yesil Yatirim
Can any of the company-specific risk be diversified away by investing in both Bms Birlesik and Yesil 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 Bms Birlesik and Yesil Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bms Birlesik Metal and Yesil Yatirim Holding, you can compare the effects of market volatilities on Bms Birlesik and Yesil 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 Bms Birlesik with a short position of Yesil Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bms Birlesik and Yesil Yatirim.
Diversification Opportunities for Bms Birlesik and Yesil Yatirim
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bms and Yesil is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Bms Birlesik Metal and Yesil Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil Yatirim Holding and Bms Birlesik 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 Bms Birlesik Metal are associated (or correlated) with Yesil Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Yatirim Holding has no effect on the direction of Bms Birlesik i.e., Bms Birlesik and Yesil Yatirim go up and down completely randomly.
Pair Corralation between Bms Birlesik and Yesil Yatirim
Assuming the 90 days trading horizon Bms Birlesik Metal is expected to generate 0.61 times more return on investment than Yesil Yatirim. However, Bms Birlesik Metal is 1.65 times less risky than Yesil Yatirim. It trades about 0.33 of its potential returns per unit of risk. Yesil Yatirim Holding is currently generating about -0.11 per unit of risk. If you would invest 2,770 in Bms Birlesik Metal on December 30, 2024 and sell it today you would earn a total of 1,632 from holding Bms Birlesik Metal or generate 58.92% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Bms Birlesik Metal vs. Yesil Yatirim Holding
Performance |
Timeline |
Bms Birlesik Metal |
Yesil Yatirim Holding |
Bms Birlesik and Yesil Yatirim Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Bms Birlesik and Yesil Yatirim
The main advantage of trading using opposite Bms Birlesik and Yesil Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bms Birlesik position performs unexpectedly, Yesil 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 Yesil Yatirim will offset losses from the drop in Yesil Yatirim's long position.Bms Birlesik vs. Koza Anadolu Metal | Bms Birlesik vs. Politeknik Metal Sanayi | Bms Birlesik vs. Silverline Endustri ve | Bms Birlesik vs. Cuhadaroglu Metal Sanayi |
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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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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