Correlation Between Turkiye Halk and Gedik Yatirim
Can any of the company-specific risk be diversified away by investing in both Turkiye Halk and Gedik Yatirim 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 Halk and Gedik Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkiye Halk Bankasi and Gedik Yatirim Menkul, you can compare the effects of market volatilities on Turkiye Halk and Gedik Yatirim 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 Halk with a short position of Gedik Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Halk and Gedik Yatirim.
Diversification Opportunities for Turkiye Halk and Gedik Yatirim
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Turkiye and Gedik is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Halk Bankasi and Gedik Yatirim Menkul in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gedik Yatirim Menkul and Turkiye Halk 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 Halk Bankasi are associated (or correlated) with Gedik Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gedik Yatirim Menkul has no effect on the direction of Turkiye Halk i.e., Turkiye Halk and Gedik Yatirim go up and down completely randomly.
Pair Corralation between Turkiye Halk and Gedik Yatirim
Assuming the 90 days trading horizon Turkiye Halk is expected to generate 2.56 times less return on investment than Gedik Yatirim. But when comparing it to its historical volatility, Turkiye Halk Bankasi is 1.09 times less risky than Gedik Yatirim. It trades about 0.03 of its potential returns per unit of risk. Gedik Yatirim Menkul is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 383.00 in Gedik Yatirim Menkul on August 31, 2024 and sell it today you would earn a total of 363.00 from holding Gedik Yatirim Menkul or generate 94.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Halk Bankasi vs. Gedik Yatirim Menkul
Performance |
| Timeline |
| Turkiye Halk Bankasi |
| Gedik Yatirim Menkul |
Turkiye Halk and Gedik Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Halk and Gedik Yatirim
The main advantage of trading using opposite Turkiye Halk and Gedik Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Halk position performs unexpectedly, Gedik Yatirim 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 Gedik Yatirim will offset losses from the drop in Gedik Yatirim's long position.| Turkiye Halk vs. Turkiye Garanti Bankasi | Turkiye Halk vs. Turkiye Is Bankasi | Turkiye Halk vs. Turkiye Vakiflar Bankasi | Turkiye Halk vs. Akbank TAS |
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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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