Correlation Between E Data and Escort Teknoloji
Can any of the company-specific risk be diversified away by investing in both E Data and Escort 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 E Data and Escort Teknoloji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between E Data Teknoloji Pazarlama and Escort Teknoloji Yatirim, you can compare the effects of market volatilities on E Data and Escort 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 E Data with a short position of Escort Teknoloji. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Escort Teknoloji.
Diversification Opportunities for E Data and Escort Teknoloji
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between EDATA and Escort is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Escort Teknoloji Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Escort Teknoloji Yatirim and E Data 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 E Data Teknoloji Pazarlama are associated (or correlated) with Escort Teknoloji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Escort Teknoloji Yatirim has no effect on the direction of E Data i.e., E Data and Escort Teknoloji go up and down completely randomly.
Pair Corralation between E Data and Escort Teknoloji
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Escort Teknoloji. But the stock apears to be less risky and, when comparing its historical volatility, E Data Teknoloji Pazarlama is 1.25 times less risky than Escort Teknoloji. The stock trades about -0.1 of its potential returns per unit of risk. The Escort Teknoloji Yatirim is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 7,910 in Escort Teknoloji Yatirim on September 8, 2024 and sell it today you would lose (2,225) from holding Escort Teknoloji Yatirim or give up 28.13% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Escort Teknoloji Yatirim
Performance |
Timeline |
E Data Teknoloji |
Escort Teknoloji Yatirim |
E Data and Escort Teknoloji Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with E Data and Escort Teknoloji
The main advantage of trading using opposite E Data and Escort Teknoloji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Escort 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 Escort Teknoloji will offset losses from the drop in Escort Teknoloji's long position.E Data vs. Escort Teknoloji Yatirim | E Data vs. Brisa Bridgestone Sabanci | E Data vs. IZDEMIR Enerji Elektrik | E Data vs. Ege Gubre Sanayi |
Escort Teknoloji vs. MEGA METAL | Escort Teknoloji vs. Gentas Genel Metal | Escort Teknoloji vs. Akcansa Cimento Sanayi | Escort Teknoloji vs. E Data Teknoloji Pazarlama |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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