Borlease Otomotiv Correlations

BORLS Stock

50.35 0.55 1.10%

The current 90-days correlation between Borlease Otomotiv and Turkish Airlines is 0.26 (i.e., Modest diversification). The correlation of Borlease Otomotiv is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Borlease Otomotiv Correlation With Market

Significant diversification

The correlation between Borlease Otomotiv AS and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Borlease Otomotiv AS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Borlease Otomotiv could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Borlease Otomotiv when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Borlease Otomotiv - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Borlease Otomotiv AS to buy it.

Moving together with Borlease Stock

0.82	FROTO	Ford Otomotiv Sanayi	Pair Corr
0.79	ASELS	Aselsan Elektronik Sanayi	Pair Corr

Moving against Borlease Stock

0.63	TUPRS	Turkiye Petrol Rafin	Pair Corr
0.47	SASA	SASA Polyester Sanayi	Pair Corr
0.44	QNBFB	Qnb Finansbank AS	Pair Corr

Related Correlations Analysis

	THYAO	KCHOL	FROTO	TUPRS	QNBFB	EREGL	ASELS
THYAO		0.62	-0.05	0.59	0.59	0.18	-0.02	THYAO
KCHOL	0.62		0.0	0.56	0.29	0.38	0.03	KCHOL
FROTO	-0.05	0.0		-0.48	-0.43	0.17	0.83	FROTO
TUPRS	0.59	0.56	-0.48		0.52	0.37	-0.39	TUPRS
QNBFB	0.59	0.29	-0.43	0.52		-0.2	-0.43	QNBFB
EREGL	0.18	0.38	0.17	0.37	-0.2		0.39	EREGL
ASELS	-0.02	0.03	0.83	-0.39	-0.43	0.39		ASELS
	THYAO	KCHOL	FROTO	TUPRS	QNBFB	EREGL	ASELS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ASELS	+ 0.83	FROTO
KCHOL	+ 0.62	THYAO
TUPRS	+ 0.59	THYAO
QNBFB	+ 0.59	THYAO
TUPRS	+ 0.56	KCHOL
QNBFB	+ 0.52	TUPRS

High negative correlations

TUPRS	- 0.48	FROTO
ASELS	- 0.43	QNBFB
QNBFB	- 0.43	FROTO
ASELS	- 0.39	TUPRS
EREGL	- 0.2	QNBFB
FROTO	- 0.05	THYAO

Risk-Adjusted Indicators

There is a big difference between Borlease Stock performing well and Borlease Otomotiv Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Borlease Otomotiv's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
THYAO	1.52	(0.04)	(0.06)	0.03	1.65	(1.70)	3.23	(2.55)	7.35
KCHOL	1.78	(0.01)	(0.04)	0.10	2.13	(1.88)	4.09	(3.29)	8.99
FROTO	1.92	0.11	0.00	1.09	2.19	(2.12)	3.57	(3.58)	11.45
TUPRS	1.26	(0.08)	0.00	(0.10)	0.00	0.00	2.66	(2.14)	6.28
QNBFB	2.45	0.19	0.02	(0.82)	2.61	(3.29)	8.91	(3.45)	19.94
EREGL	1.44	0.01	(0.04)	0.15	1.71	(1.54)	2.99	(2.94)	7.74
ASELS	1.81	0.38	0.10	(0.77)	1.77	(2.09)	4.55	(3.11)	9.31

Borlease Otomotiv Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Borlease Otomotiv stock to make a market-neutral strategy. Peer analysis of Borlease Otomotiv could also be used in its relative valuation, which is a method of valuing Borlease Otomotiv by comparing valuation metrics with similar companies.

Turkish Airlines Koc Holding AS Ford Otomotiv Sanayi Turkiye Petrol Rafinerileri Qnb Finansbank AS Eregli Demir ve Aselsan Elektronik Sanayi American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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