Imas Makina Correlations

Stocks . Turkey . 
Stock . Imas Makina Sanayi
IMASM Stock   3.02  0.07  2.27%   
The current 90-days correlation between Imas Makina Sanayi and SASA Polyester Sanayi is 0.44 (i.e., Very weak diversification). The correlation of Imas Makina 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.

Imas Makina Correlation With Market

Significant diversification

The correlation between Imas Makina Sanayi and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imas Makina Sanayi and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Imas Makina could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Imas Makina 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 Imas Makina - 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 Imas Makina Sanayi to buy it.

Moving together with Imas Stock

  0.74SASA SASA Polyester SanayiPairCorr
  0.76THYAO Turkish AirlinesPairCorr
  0.74KCHOL Koc Holding ASPairCorr
  0.81KOZAA Koza Anadolu MetalPairCorr
  0.67GENTS Gentas Genel MetalPairCorr

Related Correlations Analysis

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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
+ 0.85
ENKAI
ENKAI
+ 0.76
FROTO
TUPRS
+ 0.75
SASA
ASELS
+ 0.74
FROTO
EREGL
+ 0.68
KCHOL
THYAO
+ 0.67
SASA
  
High negative correlations   
TUPRS
- 0.43
FROTO
FROTO
- 0.43
SASA
TUPRS
- 0.21
ENKAI
ASELS
- 0.18
TUPRS
ASELS
- 0.03
SASA

Risk-Adjusted Indicators

There is a big difference between Imas Stock performing well and Imas Makina 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 Imas Makina'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.

Imas Makina 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 Imas Makina stock to make a market-neutral strategy. Peer analysis of Imas Makina could also be used in its relative valuation, which is a method of valuing Imas Makina by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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