Kartal Yenilenebilir Correlations

KARYE Stock

24.90 0.14 0.56%

The current 90-days correlation between Kartal Yenilenebilir and Gentas Genel Metal is 0.26 (i.e., Modest diversification). The correlation of Kartal Yenilenebilir 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.

Kartal Yenilenebilir Correlation With Market

Significant diversification

The correlation between Kartal Yenilenebilir Enerji and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kartal Yenilenebilir Enerji and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Kartal Yenilenebilir could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kartal Yenilenebilir 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 Kartal Yenilenebilir - 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 Kartal Yenilenebilir Enerji to buy it.

Moving together with Kartal Stock

0.8	SASA	SASA Polyester Sanayi	Pair Corr
0.77	KCHOL	Koc Holding AS	Pair Corr
0.62	FROTO	Ford Otomotiv Sanayi	Pair Corr
0.81	TUPRS	Turkiye Petrol Rafin	Pair Corr

Moving against Kartal Stock

0.79	ODINE	Odine Solutions Teknoloji	Pair Corr
0.59	ASELS	Aselsan Elektronik Sanayi	Pair Corr
0.59	ALCTL	Alcatel Lucent Teletas	Pair Corr
0.5	THYAO	Turkish Airlines	Pair Corr
0.43	AKSA	Aksa Akrilik Kimya	Pair Corr

Related Correlations Analysis

	GENTS	POLTK	CUSAN	KOZAA	BMSTL	KLNMA	QNBTR
GENTS		-0.77	-0.06	0.44	0.66	-0.72	-0.46	GENTS
POLTK	-0.77		0.06	-0.11	-0.75	0.65	0.43	POLTK
CUSAN	-0.06	0.06		-0.15	-0.45	-0.18	0.13	CUSAN
KOZAA	0.44	-0.11	-0.15		0.11	-0.06	-0.35	KOZAA
BMSTL	0.66	-0.75	-0.45	0.11		-0.51	-0.39	BMSTL
KLNMA	-0.72	0.65	-0.18	-0.06	-0.51		0.31	KLNMA
QNBTR	-0.46	0.43	0.13	-0.35	-0.39	0.31		QNBTR
	GENTS	POLTK	CUSAN	KOZAA	BMSTL	KLNMA	QNBTR

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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

BMSTL	+ 0.66	GENTS
KLNMA	+ 0.65	POLTK
KOZAA	+ 0.44	GENTS
QNBTR	+ 0.43	POLTK
QNBTR	+ 0.31	KLNMA
QNBTR	+ 0.13	CUSAN

High negative correlations

POLTK	- 0.77	GENTS
BMSTL	- 0.75	POLTK
KLNMA	- 0.72	GENTS
KLNMA	- 0.51	BMSTL
QNBTR	- 0.46	GENTS
BMSTL	- 0.45	CUSAN

Risk-Adjusted Indicators

There is a big difference between Kartal Stock performing well and Kartal Yenilenebilir 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 Kartal Yenilenebilir'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
GENTS	2.35	0.57	0.27	(0.69)	2.02	(3.02)	5.83	(3.41)	14.46
POLTK	1.77	(0.29)	0.00	(2.26)	0.00	0.00	3.99	(3.59)	18.46
CUSAN	1.88	0.03	0.02	(0.09)	2.33	(2.11)	4.87	(3.72)	17.45
KOZAA	1.77	0.00	0.00	(0.03)	0.00	0.00	3.88	(4.12)	12.13
BMSTL	1.79	0.50	0.18	2.79	2.24	(2.24)	5.12	(1.77)	19.93
KLNMA	1.32	(0.24)	0.00	(1.04)	0.00	0.00	2.69	(2.65)	10.57
QNBTR	1.63	0.04	0.03	(0.43)	1.66	(2.29)	4.28	(3.13)	13.10

Kartal Yenilenebilir 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 Kartal Yenilenebilir stock to make a market-neutral strategy. Peer analysis of Kartal Yenilenebilir could also be used in its relative valuation, which is a method of valuing Kartal Yenilenebilir by comparing valuation metrics with similar companies.

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