Correlation Between E Data and Gozde Girisim
Can any of the company-specific risk be diversified away by investing in both E Data and Gozde Girisim 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 Gozde Girisim 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 Gozde Girisim Sermayesi, you can compare the effects of market volatilities on E Data and Gozde Girisim 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 Gozde Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Gozde Girisim.
Diversification Opportunities for E Data and Gozde Girisim
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between EDATA and Gozde is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Gozde Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gozde Girisim Sermayesi 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 Gozde Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gozde Girisim Sermayesi has no effect on the direction of E Data i.e., E Data and Gozde Girisim go up and down completely randomly.
Pair Corralation between E Data and Gozde Girisim
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Gozde Girisim. In addition to that, E Data is 1.27 times more volatile than Gozde Girisim Sermayesi. It trades about -0.06 of its total potential returns per unit of risk. Gozde Girisim Sermayesi is currently generating about 0.06 per unit of volatility. If you would invest 2,618 in Gozde Girisim Sermayesi on September 24, 2024 and sell it today you would earn a total of 50.00 from holding Gozde Girisim Sermayesi or generate 1.91% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
E Data Teknoloji Pazarlama vs. Gozde Girisim Sermayesi
Performance |
Timeline |
E Data Teknoloji |
Gozde Girisim Sermayesi |
E Data and Gozde Girisim Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with E Data and Gozde Girisim
The main advantage of trading using opposite E Data and Gozde Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Gozde Girisim 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 Gozde Girisim will offset losses from the drop in Gozde Girisim's long position.E Data vs. Escort Teknoloji Yatirim | E Data vs. Koc Holding AS | E Data vs. Silverline Endustri ve | E Data vs. Turkiye Petrol Rafinerileri |
Gozde Girisim vs. E Data Teknoloji Pazarlama | Gozde Girisim vs. Politeknik Metal Sanayi | Gozde Girisim vs. Gentas Genel Metal | Gozde Girisim vs. Turkiye Kalkinma Bankasi |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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