Correlation Between Turkiye Garanti and Pinar Sut
Can any of the company-specific risk be diversified away by investing in both Turkiye Garanti and Pinar Sut 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 Pinar Sut 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 Pinar Sut Mamulleri, you can compare the effects of market volatilities on Turkiye Garanti and Pinar Sut 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 Pinar Sut. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Garanti and Pinar Sut.
Diversification Opportunities for Turkiye Garanti and Pinar Sut
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Turkiye and Pinar is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Garanti Bankasi and Pinar Sut Mamulleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pinar Sut Mamulleri 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 Pinar Sut. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pinar Sut Mamulleri has no effect on the direction of Turkiye Garanti i.e., Turkiye Garanti and Pinar Sut go up and down completely randomly.
Pair Corralation between Turkiye Garanti and Pinar Sut
Assuming the 90 days trading horizon Turkiye Garanti Bankasi is expected to generate 1.45 times more return on investment than Pinar Sut. However, Turkiye Garanti is 1.45 times more volatile than Pinar Sut Mamulleri. It trades about -0.03 of its potential returns per unit of risk. Pinar Sut Mamulleri is currently generating about -0.17 per unit of risk. If you would invest 12,910 in Turkiye Garanti Bankasi on November 4, 2024 and sell it today you would lose (180.00) from holding Turkiye Garanti Bankasi or give up 1.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Garanti Bankasi vs. Pinar Sut Mamulleri
Performance |
| Timeline |
| Turkiye Garanti Bankasi |
| Pinar Sut Mamulleri |
Turkiye Garanti and Pinar Sut Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Garanti and Pinar Sut
The main advantage of trading using opposite Turkiye Garanti and Pinar Sut positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Garanti position performs unexpectedly, Pinar Sut 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 Pinar Sut will offset losses from the drop in Pinar Sut's long position.| Turkiye Garanti vs. Akbank TAS | Turkiye Garanti vs. Turkiye Is Bankasi | Turkiye Garanti vs. Yapi ve Kredi | Turkiye Garanti vs. Turkish Airlines |
| Pinar Sut vs. Koza Anadolu Metal | Pinar Sut vs. Politeknik Metal Sanayi | Pinar Sut vs. Mackolik Internet Hizmetleri | Pinar Sut vs. Bms Birlesik Metal |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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 | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |