Correlation Between JinkoSolar Holding and Vakif Finansal
Can any of the company-specific risk be diversified away by investing in both JinkoSolar Holding and Vakif Finansal 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 JinkoSolar Holding and Vakif Finansal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JinkoSolar Holding and Vakif Finansal Kiralama, you can compare the effects of market volatilities on JinkoSolar Holding and Vakif Finansal 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 JinkoSolar Holding with a short position of Vakif Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of JinkoSolar Holding and Vakif Finansal.
Diversification Opportunities for JinkoSolar Holding and Vakif Finansal
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JinkoSolar and Vakif is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JinkoSolar Holding and Vakif Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vakif Finansal Kiralama and JinkoSolar Holding 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 JinkoSolar Holding are associated (or correlated) with Vakif Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vakif Finansal Kiralama has no effect on the direction of JinkoSolar Holding i.e., JinkoSolar Holding and Vakif Finansal go up and down completely randomly.
Pair Corralation between JinkoSolar Holding and Vakif Finansal
If you would invest 0.00 in Vakif Finansal Kiralama on October 4, 2024 and sell it today you would earn a total of 0.00 from holding Vakif Finansal Kiralama or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 4.76% |
Values | Daily Returns |
JinkoSolar Holding vs. Vakif Finansal Kiralama
Performance |
Timeline |
JinkoSolar Holding |
Vakif Finansal Kiralama |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
JinkoSolar Holding and Vakif Finansal Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with JinkoSolar Holding and Vakif Finansal
The main advantage of trading using opposite JinkoSolar Holding and Vakif Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JinkoSolar Holding position performs unexpectedly, Vakif Finansal 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 Vakif Finansal will offset losses from the drop in Vakif Finansal's long position.JinkoSolar Holding vs. First Solar | JinkoSolar Holding vs. SolarEdge Technologies | JinkoSolar Holding vs. Sunrun Inc | JinkoSolar Holding vs. Sunnova Energy International |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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