Qnb Finansbank Correlations

QNBTR Stock

275.50 0.50 0.18%

The current 90-days correlation between Qnb Finansbank AS and SASA Polyester Sanayi is 0.08 (i.e., Significant diversification). The correlation of Qnb Finansbank 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.

Qnb Finansbank Correlation With Market

Significant diversification

The correlation between Qnb Finansbank AS and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qnb Finansbank AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Qnb Stock

0.67	AKSA	Aksa Akrilik Kimya	Pair Corr
0.65	TKNSA	Teknosa Ic ve	Pair Corr
0.63	NTGAZ	Naturelgaz Sanayi	Pair Corr
0.61	GWIND	Galata Wind Enerji	Pair Corr
0.59	GENTS	Gentas Genel Metal	Pair Corr
0.59	ALKIM	Alkim Alkali Kimya Split	Pair Corr
0.56	ASELS	Aselsan Elektronik Sanayi	Pair Corr
0.56	AKSEN	Aksa Enerji Uretim	Pair Corr
0.54	AKGRT	AK Sigorta AS	Pair Corr
0.53	CCOLA	Coca Cola Icecek	Pair Corr
0.51	AHGAZ	Ahlatci Dogal Gaz	Pair Corr
0.5	ESEN	Esenboga Elektrik Uretim	Pair Corr
0.5	BERA	Bera Holding AS	Pair Corr
0.49	BIMAS	BIM Birlesik Magazalar	Pair Corr
0.49	CANTE	Can2 Termik AS	Pair Corr
0.47	HALKB	Turkiye Halk Bankasi	Pair Corr
0.46	ALVES	Alves Kablo San	Pair Corr
0.43	ENJSA	Enerjisa Enerji AS	Pair Corr
0.36	SASA	SASA Polyester Sanayi	Pair Corr
0.35	VAKBN	Turkiye Vakiflar Bankasi	Pair Corr

Related Correlations Analysis

	SASA	THYAO	KCHOL	FROTO	ENKAI	TUPRS	EREGL	ASELS
SASA		0.66	0.82	-0.11	0.46	0.62	0.63	0.37	SASA
THYAO	0.66		0.61	-0.02	0.63	0.58	0.42	0.74	THYAO
KCHOL	0.82	0.61		0.16	0.58	0.61	0.71	0.33	KCHOL
FROTO	-0.11	-0.02	0.16		0.55	0.25	0.45	-0.36	FROTO
ENKAI	0.46	0.63	0.58	0.55		0.49	0.8	0.29	ENKAI
TUPRS	0.62	0.58	0.61	0.25	0.49		0.57	0.06	TUPRS
EREGL	0.63	0.42	0.71	0.45	0.8	0.57		-0.02	EREGL
ASELS	0.37	0.74	0.33	-0.36	0.29	0.06	-0.02		ASELS
	SASA	THYAO	KCHOL	FROTO	ENKAI	TUPRS	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

KCHOL	+ 0.82	SASA
EREGL	+ 0.8	ENKAI
ASELS	+ 0.74	THYAO
EREGL	+ 0.71	KCHOL
THYAO	+ 0.66	SASA
EREGL	+ 0.63	SASA

High negative correlations

ASELS	- 0.36	FROTO
FROTO	- 0.11	SASA
ASELS	- 0.02	EREGL
FROTO	- 0.02	THYAO

Risk-Adjusted Indicators

There is a big difference between Qnb Stock performing well and Qnb Finansbank 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 Qnb Finansbank'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
SASA	1.62	0.01	0.00	0.04	2.14	(1.56)	4.40	(3.14)	10.13
THYAO	1.24	0.18	0.11	0.43	1.31	(1.39)	2.65	(2.55)	8.92
KCHOL	1.37	(0.04)	0.00	(0.05)	0.00	0.00	3.02	(2.99)	7.39
FROTO	1.27	0.03	0.01	0.08	1.65	(1.49)	3.28	(2.19)	11.45
ENKAI	1.97	0.18	0.08	0.30	2.12	(2.23)	4.75	(3.81)	13.49
TUPRS	1.07	0.00	(0.01)	0.04	1.27	(1.09)	2.49	(1.88)	4.99
EREGL	1.24	(0.11)	0.00	(0.34)	0.00	0.00	2.22	(2.78)	7.28
ASELS	1.32	0.53	0.36	1.18	0.93	(1.65)	3.22	(2.39)	7.74

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

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

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