Correlation Between Armada Hflr and Guler Yatirim
Can any of the company-specific risk be diversified away by investing in both Armada Hflr 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 Armada Hflr and Guler Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Armada Hflr Pr and Guler Yatirim Holding, you can compare the effects of market volatilities on Armada Hflr 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 Armada Hflr with a short position of Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Armada Hflr and Guler Yatirim.
Diversification Opportunities for Armada Hflr and Guler Yatirim
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Armada and Guler is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Armada Hflr Pr 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 Armada Hflr 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 Armada Hflr Pr 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 Armada Hflr i.e., Armada Hflr and Guler Yatirim go up and down completely randomly.
Pair Corralation between Armada Hflr and Guler Yatirim
Considering the 90-day investment horizon Armada Hflr is expected to generate 8.1 times less return on investment than Guler Yatirim. But when comparing it to its historical volatility, Armada Hflr Pr is 2.2 times less risky than Guler Yatirim. It trades about 0.01 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 1,202 in Guler Yatirim Holding on September 25, 2024 and sell it today you would earn a total of 19.00 from holding Guler Yatirim Holding or generate 1.58% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 99.6% |
Values | Daily Returns |
Armada Hflr Pr vs. Guler Yatirim Holding
Performance |
Timeline |
Armada Hflr Pr |
Guler Yatirim Holding |
Armada Hflr and Guler Yatirim Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Armada Hflr and Guler Yatirim
The main advantage of trading using opposite Armada Hflr and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Armada Hflr 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.Armada Hflr vs. Modiv Inc | Armada Hflr vs. Precinct Properties New | Armada Hflr vs. Global Net Lease | Armada Hflr vs. NexPoint Diversified Real |
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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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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