Correlation Between Senkron Guvenlik and Koza Anadolu

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Can any of the company-specific risk be diversified away by investing in both Senkron Guvenlik 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 Senkron Guvenlik and Koza Anadolu into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Senkron Guvenlik ve and Koza Anadolu Metal, you can compare the effects of market volatilities on Senkron Guvenlik 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 Senkron Guvenlik with a short position of Koza Anadolu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Senkron Guvenlik and Koza Anadolu.

Diversification Opportunities for Senkron Guvenlik and Koza Anadolu

SenkronKozaDiversified AwaySenkronKozaDiversified Away100%
0.06
  Correlation Coefficient

Significant diversification

The 3 months correlation between Senkron and Koza is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Senkron Guvenlik 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 Senkron Guvenlik 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 Senkron Guvenlik 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 Senkron Guvenlik i.e., Senkron Guvenlik and Koza Anadolu go up and down completely randomly.

Pair Corralation between Senkron Guvenlik and Koza Anadolu

Assuming the 90 days trading horizon Senkron Guvenlik is expected to generate 1.55 times less return on investment than Koza Anadolu. In addition to that, Senkron Guvenlik is 1.17 times more volatile than Koza Anadolu Metal. It trades about 0.09 of its total potential returns per unit of risk. Koza Anadolu Metal is currently generating about 0.16 per unit of volatility. If you would invest  5,655  in Koza Anadolu Metal on October 21, 2024 and sell it today you would earn a total of  1,520  from holding Koza Anadolu Metal or generate 26.88% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Senkron Guvenlik ve  vs.  Koza Anadolu Metal

 Performance 
JavaScript chart by amCharts 3.21.15NovDec2025 -100102030
JavaScript chart by amCharts 3.21.15SNKRN KOZAA
       Timeline  
Senkron Guvenlik 

Risk-Adjusted Performance

6 of 100

 
Weak
 
Strong
Modest
Compared to the overall equity markets, risk-adjusted returns on investments in Senkron Guvenlik ve are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent forward indicators, Senkron Guvenlik demonstrated solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan4446485052545658
Koza Anadolu Metal 

Risk-Adjusted Performance

12 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in Koza Anadolu Metal are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent forward indicators, Koza Anadolu demonstrated solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan6065707580

Senkron Guvenlik and Koza Anadolu Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-9.01-6.75-4.49-2.220.02.244.616.979.3311.69 0.010.020.030.040.050.06
JavaScript chart by amCharts 3.21.15SNKRN KOZAA
       Returns  

Pair Trading with Senkron Guvenlik and Koza Anadolu

The main advantage of trading using opposite Senkron Guvenlik and Koza Anadolu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Senkron Guvenlik 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.
The idea behind Senkron Guvenlik ve and Koza Anadolu Metal 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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.

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