Correlation Between Akbank TAS and ICU Girisim
Can any of the company-specific risk be diversified away by investing in both Akbank TAS and ICU Girisim 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 ICU Girisim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akbank TAS and ICU Girisim Sermayesi, you can compare the effects of market volatilities on Akbank TAS and ICU Girisim 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 ICU Girisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akbank TAS and ICU Girisim.
Diversification Opportunities for Akbank TAS and ICU Girisim
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Akbank and ICU is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Akbank TAS and ICU Girisim Sermayesi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ICU Girisim Sermayesi 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 ICU Girisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ICU Girisim Sermayesi has no effect on the direction of Akbank TAS i.e., Akbank TAS and ICU Girisim go up and down completely randomly.
Pair Corralation between Akbank TAS and ICU Girisim
Assuming the 90 days trading horizon Akbank TAS is expected to generate 1.46 times less return on investment than ICU Girisim. But when comparing it to its historical volatility, Akbank TAS is 1.45 times less risky than ICU Girisim. It trades about 0.1 of its potential returns per unit of risk. ICU Girisim Sermayesi is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 449.00 in ICU Girisim Sermayesi on September 20, 2024 and sell it today you would earn a total of 2,299 from holding ICU Girisim Sermayesi or generate 512.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.39% |
| Values | Daily Returns |
Akbank TAS vs. ICU Girisim Sermayesi
Performance |
| Timeline |
| Akbank TAS |
| ICU Girisim Sermayesi |
Akbank TAS and ICU Girisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akbank TAS and ICU Girisim
The main advantage of trading using opposite Akbank TAS and ICU Girisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akbank TAS position performs unexpectedly, ICU Girisim 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 ICU Girisim will offset losses from the drop in ICU Girisim's long position.| Akbank TAS vs. Pamel Yenilenebilir Elektrik | Akbank TAS vs. Bosch Fren Sistemleri | Akbank TAS vs. Marka Yatirim Holding | Akbank TAS vs. Dogus Gayrimenkul Yatirim |
| ICU Girisim vs. Akbank TAS | ICU Girisim vs. Koza Anadolu Metal | ICU Girisim vs. MEGA METAL | ICU Girisim vs. Cuhadaroglu Metal Sanayi |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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