Correlation Between Lokman Hekim and Bera Holding
Can any of the company-specific risk be diversified away by investing in both Lokman Hekim and Bera Holding 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 Lokman Hekim and Bera Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lokman Hekim Engurusag and Bera Holding AS, you can compare the effects of market volatilities on Lokman Hekim and Bera Holding 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 Lokman Hekim with a short position of Bera Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lokman Hekim and Bera Holding.
Diversification Opportunities for Lokman Hekim and Bera Holding
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Lokman and Bera is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Lokman Hekim Engurusag and Bera Holding AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bera Holding AS and Lokman Hekim 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 Lokman Hekim Engurusag are associated (or correlated) with Bera Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bera Holding AS has no effect on the direction of Lokman Hekim i.e., Lokman Hekim and Bera Holding go up and down completely randomly.
Pair Corralation between Lokman Hekim and Bera Holding
Assuming the 90 days trading horizon Lokman Hekim Engurusag is expected to under-perform the Bera Holding. But the stock apears to be less risky and, when comparing its historical volatility, Lokman Hekim Engurusag is 1.17 times less risky than Bera Holding. The stock trades about -0.03 of its potential returns per unit of risk. The Bera Holding AS is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 1,551 in Bera Holding AS on September 24, 2024 and sell it today you would lose (68.00) from holding Bera Holding AS or give up 4.38% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Lokman Hekim Engurusag vs. Bera Holding AS
Performance |
Timeline |
Lokman Hekim Engurusag |
Bera Holding AS |
Lokman Hekim and Bera Holding Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lokman Hekim and Bera Holding
The main advantage of trading using opposite Lokman Hekim and Bera Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lokman Hekim position performs unexpectedly, Bera Holding 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 Bera Holding will offset losses from the drop in Bera Holding's long position.Lokman Hekim vs. Is Yatirim Ortakligi | Lokman Hekim vs. Euro Menkul Kiymet | Lokman Hekim vs. Euro Trend Yatirim | Lokman Hekim vs. Hedef Girisim Sermayesi |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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