Correlation Between JinkoSolar Holding and Vakif Finansal

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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

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  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 Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.76%
ValuesDaily Returns

JinkoSolar Holding  vs.  Vakif Finansal Kiralama

 Performance 
       Timeline  
JinkoSolar Holding 

Risk-Adjusted Performance

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Over the last 90 days JinkoSolar Holding has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable forward-looking signals, JinkoSolar Holding is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.
Vakif Finansal Kiralama 

Risk-Adjusted Performance

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Strong
OK
Over the last 90 days Vakif Finansal Kiralama has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong forward indicators, Vakif Finansal is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

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.
The idea behind JinkoSolar Holding and Vakif Finansal Kiralama 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.

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