Correlation Between Aksa Enerji and Kontrolmatik Teknoloji
Can any of the company-specific risk be diversified away by investing in both Aksa Enerji and Kontrolmatik Teknoloji 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 Aksa Enerji and Kontrolmatik Teknoloji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aksa Enerji Uretim and Kontrolmatik Teknoloji Enerji, you can compare the effects of market volatilities on Aksa Enerji and Kontrolmatik Teknoloji 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 Aksa Enerji with a short position of Kontrolmatik Teknoloji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aksa Enerji and Kontrolmatik Teknoloji.
Diversification Opportunities for Aksa Enerji and Kontrolmatik Teknoloji
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Aksa and Kontrolmatik is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Aksa Enerji Uretim and Kontrolmatik Teknoloji Enerji in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kontrolmatik Teknoloji and Aksa Enerji 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 Aksa Enerji Uretim are associated (or correlated) with Kontrolmatik Teknoloji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kontrolmatik Teknoloji has no effect on the direction of Aksa Enerji i.e., Aksa Enerji and Kontrolmatik Teknoloji go up and down completely randomly.
Pair Corralation between Aksa Enerji and Kontrolmatik Teknoloji
Assuming the 90 days trading horizon Aksa Enerji Uretim is expected to generate 0.6 times more return on investment than Kontrolmatik Teknoloji. However, Aksa Enerji Uretim is 1.66 times less risky than Kontrolmatik Teknoloji. It trades about 0.1 of its potential returns per unit of risk. Kontrolmatik Teknoloji Enerji is currently generating about -0.32 per unit of risk. If you would invest 3,520 in Aksa Enerji Uretim on September 26, 2024 and sell it today you would earn a total of 120.00 from holding Aksa Enerji Uretim or generate 3.41% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Aksa Enerji Uretim vs. Kontrolmatik Teknoloji Enerji
Performance |
Timeline |
Aksa Enerji Uretim |
Kontrolmatik Teknoloji |
Aksa Enerji and Kontrolmatik Teknoloji Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Aksa Enerji and Kontrolmatik Teknoloji
The main advantage of trading using opposite Aksa Enerji and Kontrolmatik Teknoloji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aksa Enerji position performs unexpectedly, Kontrolmatik Teknoloji 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 Kontrolmatik Teknoloji will offset losses from the drop in Kontrolmatik Teknoloji's long position.Aksa Enerji vs. Turkiye Petrol Rafinerileri | Aksa Enerji vs. Aksa Akrilik Kimya | Aksa Enerji vs. Arcelik AS | Aksa Enerji vs. Tofas Turk Otomobil |
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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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