Correlation Between Koc Holding and Sok Marketler
Can any of the company-specific risk be diversified away by investing in both Koc Holding and Sok Marketler 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 Koc Holding and Sok Marketler into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Koc Holding AS and Sok Marketler Ticaret, you can compare the effects of market volatilities on Koc Holding and Sok Marketler 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 Koc Holding with a short position of Sok Marketler. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koc Holding and Sok Marketler.
Diversification Opportunities for Koc Holding and Sok Marketler
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Koc and Sok is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Koc Holding AS and Sok Marketler Ticaret in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sok Marketler Ticaret and Koc Holding 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 Koc Holding AS are associated (or correlated) with Sok Marketler. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sok Marketler Ticaret has no effect on the direction of Koc Holding i.e., Koc Holding and Sok Marketler go up and down completely randomly.
Pair Corralation between Koc Holding and Sok Marketler
Assuming the 90 days trading horizon Koc Holding AS is expected to generate 0.99 times more return on investment than Sok Marketler. However, Koc Holding AS is 1.01 times less risky than Sok Marketler. It trades about 0.32 of its potential returns per unit of risk. Sok Marketler Ticaret is currently generating about -0.03 per unit of risk. If you would invest 16,801 in Koc Holding AS on February 23, 2024 and sell it today you would earn a total of 9,374 from holding Koc Holding AS or generate 55.79% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Koc Holding AS vs. Sok Marketler Ticaret
Performance |
Timeline |
Koc Holding AS |
Sok Marketler Ticaret |
Koc Holding and Sok Marketler Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Koc Holding and Sok Marketler
The main advantage of trading using opposite Koc Holding and Sok Marketler positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koc Holding position performs unexpectedly, Sok Marketler 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 Sok Marketler will offset losses from the drop in Sok Marketler's long position.Koc Holding vs. Haci Omer Sabanci | Koc Holding vs. Turkiye Sise ve | Koc Holding vs. Turkiye Petrol Rafinerileri | Koc Holding vs. Turkiye Garanti Bankasi |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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