Correlation Between Guler Yatirim and Sekerbank TAS
Can any of the company-specific risk be diversified away by investing in both Guler Yatirim and Sekerbank TAS 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 Guler Yatirim and Sekerbank TAS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Guler Yatirim Holding and Sekerbank TAS, you can compare the effects of market volatilities on Guler Yatirim and Sekerbank TAS 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 Guler Yatirim with a short position of Sekerbank TAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guler Yatirim and Sekerbank TAS.
Diversification Opportunities for Guler Yatirim and Sekerbank TAS
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Guler and Sekerbank is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Guler Yatirim Holding and Sekerbank TAS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sekerbank TAS and Guler Yatirim 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 Guler Yatirim Holding are associated (or correlated) with Sekerbank TAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sekerbank TAS has no effect on the direction of Guler Yatirim i.e., Guler Yatirim and Sekerbank TAS go up and down completely randomly.
Pair Corralation between Guler Yatirim and Sekerbank TAS
Assuming the 90 days trading horizon Guler Yatirim is expected to generate 2.02 times less return on investment than Sekerbank TAS. In addition to that, Guler Yatirim is 1.05 times more volatile than Sekerbank TAS. It trades about 0.03 of its total potential returns per unit of risk. Sekerbank TAS is currently generating about 0.06 per unit of volatility. If you would invest 225.00 in Sekerbank TAS on September 5, 2024 and sell it today you would earn a total of 235.00 from holding Sekerbank TAS or generate 104.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guler Yatirim Holding vs. Sekerbank TAS
Performance |
| Timeline |
| Guler Yatirim Holding |
| Sekerbank TAS |
Guler Yatirim and Sekerbank TAS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guler Yatirim and Sekerbank TAS
The main advantage of trading using opposite Guler Yatirim and Sekerbank TAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guler Yatirim position performs unexpectedly, Sekerbank TAS 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 Sekerbank TAS will offset losses from the drop in Sekerbank TAS's long position.| Guler Yatirim vs. Sekerbank TAS | Guler Yatirim vs. Datagate Bilgisayar Malzemeleri | Guler Yatirim vs. E Data Teknoloji Pazarlama | Guler Yatirim vs. Cuhadaroglu Metal Sanayi |
| Sekerbank TAS vs. Turkiye Sinai Kalkinma | Sekerbank TAS vs. Yapi ve Kredi | Sekerbank TAS vs. Kardemir Karabuk Demir | Sekerbank TAS vs. Turkiye Is Bankasi |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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