Correlation Between Duran Dogan and Turkiye Kalkinma
Can any of the company-specific risk be diversified away by investing in both Duran Dogan and Turkiye Kalkinma 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 Duran Dogan and Turkiye Kalkinma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Duran Dogan Basim ve and Turkiye Kalkinma Bankasi, you can compare the effects of market volatilities on Duran Dogan and Turkiye Kalkinma 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 Duran Dogan with a short position of Turkiye Kalkinma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duran Dogan and Turkiye Kalkinma.
Diversification Opportunities for Duran Dogan and Turkiye Kalkinma
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Duran and Turkiye is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Duran Dogan Basim ve and Turkiye Kalkinma Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Kalkinma Bankasi and Duran Dogan 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 Duran Dogan Basim ve are associated (or correlated) with Turkiye Kalkinma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Kalkinma Bankasi has no effect on the direction of Duran Dogan i.e., Duran Dogan and Turkiye Kalkinma go up and down completely randomly.
Pair Corralation between Duran Dogan and Turkiye Kalkinma
Assuming the 90 days trading horizon Duran Dogan Basim ve is expected to generate 4.31 times more return on investment than Turkiye Kalkinma. However, Duran Dogan is 4.31 times more volatile than Turkiye Kalkinma Bankasi. It trades about 0.16 of its potential returns per unit of risk. Turkiye Kalkinma Bankasi is currently generating about -0.04 per unit of risk. If you would invest 1,649 in Duran Dogan Basim ve on August 30, 2024 and sell it today you would earn a total of 779.00 from holding Duran Dogan Basim ve or generate 47.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duran Dogan Basim ve vs. Turkiye Kalkinma Bankasi
Performance |
| Timeline |
| Duran Dogan Basim |
| Turkiye Kalkinma Bankasi |
Duran Dogan and Turkiye Kalkinma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duran Dogan and Turkiye Kalkinma
The main advantage of trading using opposite Duran Dogan and Turkiye Kalkinma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duran Dogan position performs unexpectedly, Turkiye Kalkinma 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 Turkiye Kalkinma will offset losses from the drop in Turkiye Kalkinma's long position.| Duran Dogan vs. Sodas Sodyum Sanayi | Duran Dogan vs. Cuhadaroglu Metal Sanayi | Duran Dogan vs. Borlease Otomotiv AS | Duran Dogan vs. Akbank TAS |
| Turkiye Kalkinma vs. Qnb Finansbank AS | Turkiye Kalkinma vs. Turkiye Vakiflar Bankasi | Turkiye Kalkinma vs. Turkiye Halk Bankasi | Turkiye Kalkinma vs. Turkiye Sinai Kalkinma |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |