Correlation Between Akbank TAS and Birikim Varlik
Can any of the company-specific risk be diversified away by investing in both Akbank TAS and Birikim Varlik at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Akbank TAS and Birikim Varlik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akbank TAS and Birikim Varlik Yonetim, you can compare the effects of market volatilities on Akbank TAS and Birikim Varlik and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Akbank TAS with a short position of Birikim Varlik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akbank TAS and Birikim Varlik.
Diversification Opportunities for Akbank TAS and Birikim Varlik
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Akbank and Birikim is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Akbank TAS and Birikim Varlik Yonetim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Birikim Varlik Yonetim and Akbank TAS is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Akbank TAS are associated (or correlated) with Birikim Varlik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Birikim Varlik Yonetim has no effect on the direction of Akbank TAS i.e., Akbank TAS and Birikim Varlik go up and down completely randomly.
Pair Corralation between Akbank TAS and Birikim Varlik
Assuming the 90 days trading horizon Akbank TAS is expected to generate 0.98 times more return on investment than Birikim Varlik. However, Akbank TAS is 1.02 times less risky than Birikim Varlik. It trades about 0.08 of its potential returns per unit of risk. Birikim Varlik Yonetim is currently generating about 0.04 per unit of risk. If you would invest 5,680 in Akbank TAS on September 12, 2024 and sell it today you would earn a total of 710.00 from holding Akbank TAS or generate 12.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Akbank TAS vs. Birikim Varlik Yonetim
Performance |
| Timeline |
| Akbank TAS |
| Birikim Varlik Yonetim |
Akbank TAS and Birikim Varlik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akbank TAS and Birikim Varlik
The main advantage of trading using opposite Akbank TAS and Birikim Varlik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akbank TAS position performs unexpectedly, Birikim Varlik can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Birikim Varlik will offset losses from the drop in Birikim Varlik's long position.| Akbank TAS vs. Turkiye Garanti Bankasi | Akbank TAS vs. Yapi ve Kredi | Akbank TAS vs. Turkiye Is Bankasi | Akbank TAS vs. Koc Holding AS |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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