Correlation Between GSD Holding and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both GSD Holding and Turkiye Is 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 GSD Holding and Turkiye Is into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GSD Holding AS and Turkiye Is Bankasi, you can compare the effects of market volatilities on GSD Holding and Turkiye Is 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 GSD Holding with a short position of Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of GSD Holding and Turkiye Is.
Diversification Opportunities for GSD Holding and Turkiye Is
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between GSD and Turkiye is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding GSD Holding AS and Turkiye Is Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Is Bankasi and GSD Holding 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 GSD Holding AS are associated (or correlated) with Turkiye Is. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Is Bankasi has no effect on the direction of GSD Holding i.e., GSD Holding and Turkiye Is go up and down completely randomly.
Pair Corralation between GSD Holding and Turkiye Is
Assuming the 90 days trading horizon GSD Holding AS is expected to generate 0.51 times more return on investment than Turkiye Is. However, GSD Holding AS is 1.97 times less risky than Turkiye Is. It trades about -0.02 of its potential returns per unit of risk. Turkiye Is Bankasi is currently generating about -0.01 per unit of risk. If you would invest 420.00 in GSD Holding AS on August 28, 2024 and sell it today you would lose (27.00) from holding GSD Holding AS or give up 6.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GSD Holding AS vs. Turkiye Is Bankasi
Performance |
| Timeline |
| GSD Holding AS |
| Turkiye Is Bankasi |
GSD Holding and Turkiye Is Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GSD Holding and Turkiye Is
The main advantage of trading using opposite GSD Holding and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GSD Holding position performs unexpectedly, Turkiye Is 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 Is will offset losses from the drop in Turkiye Is' long position.| GSD Holding vs. Koza Anadolu Metal | GSD Holding vs. MEGA METAL | GSD Holding vs. Trabzonspor Sportif Yatirim | GSD Holding vs. Bms Birlesik Metal |
| Turkiye Is vs. Qnb Finansbank AS | Turkiye Is vs. Turkiye Is Bankasi | Turkiye Is vs. Haci Omer Sabanci | Turkiye Is vs. Turkiye Vakiflar 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |