Correlation Between Turkiye Garanti and Dogus Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Turkiye Garanti and Dogus Gayrimenkul 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 Turkiye Garanti and Dogus Gayrimenkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkiye Garanti Bankasi and Dogus Gayrimenkul Yatirim, you can compare the effects of market volatilities on Turkiye Garanti and Dogus Gayrimenkul 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 Turkiye Garanti with a short position of Dogus Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Garanti and Dogus Gayrimenkul.
Diversification Opportunities for Turkiye Garanti and Dogus Gayrimenkul
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Turkiye and Dogus is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Garanti Bankasi and Dogus Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dogus Gayrimenkul Yatirim and Turkiye Garanti 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 Turkiye Garanti Bankasi are associated (or correlated) with Dogus Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dogus Gayrimenkul Yatirim has no effect on the direction of Turkiye Garanti i.e., Turkiye Garanti and Dogus Gayrimenkul go up and down completely randomly.
Pair Corralation between Turkiye Garanti and Dogus Gayrimenkul
Assuming the 90 days trading horizon Turkiye Garanti Bankasi is expected to generate 0.78 times more return on investment than Dogus Gayrimenkul. However, Turkiye Garanti Bankasi is 1.28 times less risky than Dogus Gayrimenkul. It trades about 0.14 of its potential returns per unit of risk. Dogus Gayrimenkul Yatirim is currently generating about 0.05 per unit of risk. If you would invest 5,939 in Turkiye Garanti Bankasi on September 12, 2024 and sell it today you would earn a total of 6,661 from holding Turkiye Garanti Bankasi or generate 112.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Garanti Bankasi vs. Dogus Gayrimenkul Yatirim
Performance |
| Timeline |
| Turkiye Garanti Bankasi |
| Dogus Gayrimenkul Yatirim |
Turkiye Garanti and Dogus Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Garanti and Dogus Gayrimenkul
The main advantage of trading using opposite Turkiye Garanti and Dogus Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Garanti position performs unexpectedly, Dogus Gayrimenkul 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 Dogus Gayrimenkul will offset losses from the drop in Dogus Gayrimenkul's long position.| Turkiye Garanti vs. Pamel Yenilenebilir Elektrik | Turkiye Garanti vs. Bosch Fren Sistemleri | Turkiye Garanti vs. Marka Yatirim Holding | Turkiye Garanti vs. Dogus Gayrimenkul Yatirim |
| Dogus Gayrimenkul vs. Turkiye Garanti Bankasi | Dogus Gayrimenkul vs. Turkiye Is Bankasi | Dogus Gayrimenkul vs. Turkiye Is Bankasi | Dogus Gayrimenkul vs. Akbank TAS |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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