Correlation Between Beyaz Filo and Turkcell Iletisim
Can any of the company-specific risk be diversified away by investing in both Beyaz Filo and Turkcell Iletisim 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 Beyaz Filo and Turkcell Iletisim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Beyaz Filo Oto and Turkcell Iletisim Hizmetleri, you can compare the effects of market volatilities on Beyaz Filo and Turkcell Iletisim 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 Beyaz Filo with a short position of Turkcell Iletisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beyaz Filo and Turkcell Iletisim.
Diversification Opportunities for Beyaz Filo and Turkcell Iletisim
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Beyaz and Turkcell is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Beyaz Filo Oto and Turkcell Iletisim Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkcell Iletisim and Beyaz Filo 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 Beyaz Filo Oto are associated (or correlated) with Turkcell Iletisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkcell Iletisim has no effect on the direction of Beyaz Filo i.e., Beyaz Filo and Turkcell Iletisim go up and down completely randomly.
Pair Corralation between Beyaz Filo and Turkcell Iletisim
Assuming the 90 days trading horizon Beyaz Filo Oto is expected to under-perform the Turkcell Iletisim. In addition to that, Beyaz Filo is 1.2 times more volatile than Turkcell Iletisim Hizmetleri. It trades about -0.4 of its total potential returns per unit of risk. Turkcell Iletisim Hizmetleri is currently generating about -0.07 per unit of volatility. If you would invest 10,610 in Turkcell Iletisim Hizmetleri on November 27, 2024 and sell it today you would lose (240.00) from holding Turkcell Iletisim Hizmetleri or give up 2.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beyaz Filo Oto vs. Turkcell Iletisim Hizmetleri
Performance |
| Timeline |
| Beyaz Filo Oto |
| Turkcell Iletisim |
Beyaz Filo and Turkcell Iletisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beyaz Filo and Turkcell Iletisim
The main advantage of trading using opposite Beyaz Filo and Turkcell Iletisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beyaz Filo position performs unexpectedly, Turkcell Iletisim 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 Turkcell Iletisim will offset losses from the drop in Turkcell Iletisim's long position.| Beyaz Filo vs. Galatasaray Sportif Sinai | Beyaz Filo vs. Sodas Sodyum Sanayi | Beyaz Filo vs. Bms Birlesik Metal | Beyaz Filo vs. Politeknik Metal Sanayi |
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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