Correlation Between E Data and Unlu Yatirim

Can any of the company-specific risk be diversified away by investing in both E Data and Unlu 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 E Data and Unlu Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between E Data Teknoloji Pazarlama and Unlu Yatirim Holding, you can compare the effects of market volatilities on E Data and Unlu 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 E Data with a short position of Unlu Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Unlu Yatirim.

Diversification Opportunities for E Data and Unlu Yatirim

0.11

Correlation Coefficient

E Data  Unlu Yatirim

Average diversification

The 3 months correlation between EDATA and Unlu is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Unlu Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unlu Yatirim Holding and E Data 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 E Data Teknoloji Pazarlama are associated (or correlated) with Unlu Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unlu Yatirim Holding has no effect on the direction of E Data i.e., E Data and Unlu Yatirim go up and down completely randomly.

Pair Corralation between E Data and Unlu Yatirim

Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Unlu Yatirim. In addition to that, E Data is 1.09 times more volatile than Unlu Yatirim Holding. It trades about -0.13 of its total potential returns per unit of risk. Unlu Yatirim Holding is currently generating about 0.09 per unit of volatility. If you would invest  1,336  in Unlu Yatirim Holding on September 30, 2024 and sell it today you would earn a total of  141.00  from holding Unlu Yatirim Holding or generate 10.55% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

E Data Teknoloji Pazarlama  vs.  Unlu Yatirim Holding

E Data Teknoloji

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days E Data Teknoloji Pazarlama has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Stock's forward indicators remain fairly strong which may send shares a bit higher in January 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Unlu Yatirim Holding

Risk-Adjusted Performance

6 of 100

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Unlu Yatirim Holding are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively inconsistent basic indicators, Unlu Yatirim may actually be approaching a critical reversion point that can send shares even higher in January 2025.

Pair Trading with E Data and Unlu Yatirim

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

The idea behind E Data Teknoloji Pazarlama and Unlu Yatirim Holding 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.