Politeknik Metal Correlations

POLTK Stock

TRY 7,178 652.50 10.00%

The current 90-days correlation between Politeknik Metal Sanayi and Sekerbank TAS is 0.31 (i.e., Weak diversification). The correlation of Politeknik Metal 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.

Politeknik Metal Correlation With Market

Average diversification

The correlation between Politeknik Metal Sanayi and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Politeknik Metal Sanayi and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Politeknik Stock

0.9	SASA	SASA Polyester Sanayi	Pair Corr
0.78	THYAO	Turkish Airlines	Pair Corr
0.84	QNBFB	Qnb Finansbank AS	Pair Corr

Moving against Politeknik Stock

0.44	FROTO	Ford Otomotiv Sanayi	Pair Corr
0.4	ASELS	Aselsan Elektronik Sanayi	Pair Corr

Related Correlations Analysis

	MEGMT	SKBNK	CUSAN	DGATE	POLTK	AKBNK	QNBFB
MEGMT		0.62	0.78	0.1	0.85	0.71	0.75	MEGMT
SKBNK	0.62		0.76	0.46	0.49	0.64	0.4	SKBNK
CUSAN	0.78	0.76		0.54	0.6	0.72	0.42	CUSAN
DGATE	0.1	0.46	0.54		-0.11	0.04	-0.08	DGATE
POLTK	0.85	0.49	0.6	-0.11		0.67	0.84	POLTK
AKBNK	0.71	0.64	0.72	0.04	0.67		0.53	AKBNK
QNBFB	0.75	0.4	0.42	-0.08	0.84	0.53		QNBFB
	MEGMT	SKBNK	CUSAN	DGATE	POLTK	AKBNK	QNBFB

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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

POLTK	+ 0.85	MEGMT
QNBFB	+ 0.84	POLTK
CUSAN	+ 0.78	MEGMT
CUSAN	+ 0.76	SKBNK
QNBFB	+ 0.75	MEGMT
AKBNK	+ 0.72	CUSAN

High negative correlations

POLTK	- 0.11	DGATE
QNBFB	- 0.08	DGATE

Risk-Adjusted Indicators

There is a big difference between Politeknik Stock performing well and Politeknik Metal 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 Politeknik Metal'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
MEGMT	1.85	(0.17)	0.00	1.04	0.00	0.00	3.56	(3.83)	12.82
SKBNK	1.78	(0.07)	(0.05)	0.02	2.16	(2.20)	3.79	(3.55)	12.93
CUSAN	1.76	(0.04)	(0.04)	0.03	2.20	(1.84)	5.23	(3.23)	11.59
DGATE	2.48	0.19	0.03	0.71	3.07	(2.51)	5.41	(4.81)	17.37
POLTK	2.11	0.01	(0.02)	0.15	2.31	(2.48)	4.25	(3.81)	15.38
AKBNK	2.33	(0.01)	(0.03)	0.09	2.94	(2.45)	5.43	(5.82)	13.73
QNBFB	2.45	0.19	0.02	(0.82)	2.61	(3.29)	8.91	(3.45)	19.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in Politeknik Metal without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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