Correlation Between Kristal Kola and Koza Anadolu
Can any of the company-specific risk be diversified away by investing in both Kristal Kola and Koza Anadolu 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 Kristal Kola and Koza Anadolu into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kristal Kola ve and Koza Anadolu Metal, you can compare the effects of market volatilities on Kristal Kola and Koza Anadolu 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 Kristal Kola with a short position of Koza Anadolu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kristal Kola and Koza Anadolu.
Diversification Opportunities for Kristal Kola and Koza Anadolu
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kristal and Koza is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Kristal Kola ve and Koza Anadolu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Koza Anadolu Metal and Kristal Kola 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 Kristal Kola ve are associated (or correlated) with Koza Anadolu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Koza Anadolu Metal has no effect on the direction of Kristal Kola i.e., Kristal Kola and Koza Anadolu go up and down completely randomly.
Pair Corralation between Kristal Kola and Koza Anadolu
Assuming the 90 days trading horizon Kristal Kola ve is expected to generate 0.62 times more return on investment than Koza Anadolu. However, Kristal Kola ve is 1.61 times less risky than Koza Anadolu. It trades about 0.03 of its potential returns per unit of risk. Koza Anadolu Metal is currently generating about -0.28 per unit of risk. If you would invest 571.00 in Kristal Kola ve on September 23, 2024 and sell it today you would earn a total of 4.00 from holding Kristal Kola ve or generate 0.7% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Kristal Kola ve vs. Koza Anadolu Metal
Performance |
Timeline |
Kristal Kola ve |
Koza Anadolu Metal |
Kristal Kola and Koza Anadolu Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kristal Kola and Koza Anadolu
The main advantage of trading using opposite Kristal Kola and Koza Anadolu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kristal Kola position performs unexpectedly, Koza Anadolu 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 Koza Anadolu will offset losses from the drop in Koza Anadolu's long position.Kristal Kola vs. MEGA METAL | Kristal Kola vs. Koza Anadolu Metal | Kristal Kola vs. Gentas Genel Metal | Kristal Kola vs. ICBC Turkey Bank |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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