Correlation Between Turkiye Garanti and Is Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Turkiye Garanti and Is 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 Is 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 Is Gayrimenkul Yatirim, you can compare the effects of market volatilities on Turkiye Garanti and Is 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 Is Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Garanti and Is Gayrimenkul.
Diversification Opportunities for Turkiye Garanti and Is Gayrimenkul
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Turkiye and ISGYO is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Garanti Bankasi and Is Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Is 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 Is Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Is Gayrimenkul Yatirim has no effect on the direction of Turkiye Garanti i.e., Turkiye Garanti and Is Gayrimenkul go up and down completely randomly.
Pair Corralation between Turkiye Garanti and Is Gayrimenkul
Assuming the 90 days trading horizon Turkiye Garanti Bankasi is expected to generate 0.84 times more return on investment than Is Gayrimenkul. However, Turkiye Garanti Bankasi is 1.2 times less risky than Is Gayrimenkul. It trades about 0.13 of its potential returns per unit of risk. Is Gayrimenkul Yatirim is currently generating about 0.02 per unit of risk. If you would invest 4,757 in Turkiye Garanti Bankasi on September 12, 2024 and sell it today you would earn a total of 8,133 from holding Turkiye Garanti Bankasi or generate 170.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.7% |
| Values | Daily Returns |
Turkiye Garanti Bankasi vs. Is Gayrimenkul Yatirim
Performance |
| Timeline |
| Turkiye Garanti Bankasi |
| Is Gayrimenkul Yatirim |
Turkiye Garanti and Is Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Garanti and Is Gayrimenkul
The main advantage of trading using opposite Turkiye Garanti and Is Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Garanti position performs unexpectedly, Is 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 Is Gayrimenkul will offset losses from the drop in Is 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 |
| Is Gayrimenkul vs. Turkiye Garanti Bankasi | Is Gayrimenkul vs. Turkiye Is Bankasi | Is Gayrimenkul vs. Turkiye Is Bankasi | Is 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 Transaction History module to view history of all your transactions and understand their impact on performance.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device |