Correlation Between Akbank Turk and Kasikornbank Public
Can any of the company-specific risk be diversified away by investing in both Akbank Turk and Kasikornbank Public 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 Turk and Kasikornbank Public into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akbank Turk Anonim and Kasikornbank Public Co, you can compare the effects of market volatilities on Akbank Turk and Kasikornbank Public 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 Turk with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akbank Turk and Kasikornbank Public.
Diversification Opportunities for Akbank Turk and Kasikornbank Public
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Akbank and Kasikornbank is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Akbank Turk Anonim and Kasikornbank Public Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and Akbank Turk 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 Turk Anonim are associated (or correlated) with Kasikornbank Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kasikornbank Public has no effect on the direction of Akbank Turk i.e., Akbank Turk and Kasikornbank Public go up and down completely randomly.
Pair Corralation between Akbank Turk and Kasikornbank Public
Assuming the 90 days horizon Akbank Turk Anonim is expected to under-perform the Kasikornbank Public. But the otc stock apears to be less risky and, when comparing its historical volatility, Akbank Turk Anonim is 1.03 times less risky than Kasikornbank Public. The otc stock trades about -0.04 of its potential returns per unit of risk. The Kasikornbank Public Co is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 1,888 in Kasikornbank Public Co on November 28, 2024 and sell it today you would lose (77.00) from holding Kasikornbank Public Co or give up 4.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Akbank Turk Anonim vs. Kasikornbank Public Co
Performance |
| Timeline |
| Akbank Turk Anonim |
| Kasikornbank Public |
Akbank Turk and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akbank Turk and Kasikornbank Public
The main advantage of trading using opposite Akbank Turk and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akbank Turk position performs unexpectedly, Kasikornbank Public 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 Kasikornbank Public will offset losses from the drop in Kasikornbank Public's long position.| Akbank Turk vs. Commercial International Bank | Akbank Turk vs. Kasikornbank Public Co | Akbank Turk vs. PT Bank Central | Akbank Turk vs. PT Bank Rakyat |
| Kasikornbank Public vs. Turkiye Garanti Bankasi | Kasikornbank Public vs. Hang Seng Bank | Kasikornbank Public vs. PT Bank Rakyat | Kasikornbank Public vs. Delhi Bank Corp |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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