Correlation Between E Data and Turkish Airlines
Can any of the company-specific risk be diversified away by investing in both E Data and Turkish Airlines 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 Turkish Airlines 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 Turkish Airlines, you can compare the effects of market volatilities on E Data and Turkish Airlines 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 Turkish Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and Turkish Airlines.
Diversification Opportunities for E Data and Turkish Airlines
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between EDATA and Turkish is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and Turkish Airlines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkish Airlines 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 Turkish Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkish Airlines has no effect on the direction of E Data i.e., E Data and Turkish Airlines go up and down completely randomly.
Pair Corralation between E Data and Turkish Airlines
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the Turkish Airlines. In addition to that, E Data is 2.27 times more volatile than Turkish Airlines. It trades about -0.06 of its total potential returns per unit of risk. Turkish Airlines is currently generating about -0.09 per unit of volatility. If you would invest 29,625 in Turkish Airlines on September 24, 2024 and sell it today you would lose (650.00) from holding Turkish Airlines or give up 2.19% 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. Turkish Airlines
Performance |
Timeline |
E Data Teknoloji |
Turkish Airlines |
E Data and Turkish Airlines Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with E Data and Turkish Airlines
The main advantage of trading using opposite E Data and Turkish Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, Turkish Airlines 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 Turkish Airlines will offset losses from the drop in Turkish Airlines' 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 |
Turkish Airlines vs. Aselsan Elektronik Sanayi | Turkish Airlines vs. Turkiye Petrol Rafinerileri | Turkish Airlines vs. Pegasus Hava Tasimaciligi | Turkish Airlines vs. Turkiye Sise ve |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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