Correlation Between Sodas Sodyum and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Sodas Sodyum and Guler Yatirim 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 Sodas Sodyum and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sodas Sodyum Sanayi and Guler Yatirim Holding, you can compare the effects of market volatilities on Sodas Sodyum and Guler Yatirim 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 Sodas Sodyum with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sodas Sodyum and Guler Yatirim.
Diversification Opportunities for Sodas Sodyum and Guler Yatirim
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sodas and Guler is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sodas Sodyum Sanayi and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding and Sodas Sodyum 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 Sodas Sodyum Sanayi are associated (or correlated) with Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of Sodas Sodyum i.e., Sodas Sodyum and Guler Yatirim go up and down completely randomly.
Pair Corralation between Sodas Sodyum and Guler Yatirim
Assuming the 90 days trading horizon Sodas Sodyum is expected to generate 1.58 times less return on investment than Guler Yatirim. In addition to that, Sodas Sodyum is 1.17 times more volatile than Guler Yatirim Holding. It trades about 0.06 of its total potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.12 per unit of volatility. If you would invest 1,164 in Guler Yatirim Holding on September 26, 2024 and sell it today you would earn a total of 65.00 from holding Guler Yatirim Holding or generate 5.58% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Sodas Sodyum Sanayi vs. Guler Yatirim Holding
Performance |
Timeline |
Sodas Sodyum Sanayi |
Guler Yatirim Holding |
Sodas Sodyum and Guler Yatirim Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Sodas Sodyum and Guler Yatirim
The main advantage of trading using opposite Sodas Sodyum and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sodas Sodyum position performs unexpectedly, Guler Yatirim 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.Sodas Sodyum vs. Ege Endustri ve | Sodas Sodyum vs. Bosch Fren Sistemleri | Sodas Sodyum vs. Dogus Otomotiv Servis | Sodas Sodyum vs. Nuh Cimento Sanayi |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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