Correlation Between Turkiye Halk and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both Turkiye Halk 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 Turkiye Halk and Turkiye Is 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 Turkiye Is Bankasi, you can compare the effects of market volatilities on Turkiye Halk 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 Turkiye Halk with a short position of Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Halk and Turkiye Is.
Diversification Opportunities for Turkiye Halk and Turkiye Is
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Turkiye and Turkiye is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Halk Bankasi 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 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 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 Turkiye Halk i.e., Turkiye Halk and Turkiye Is go up and down completely randomly.
Pair Corralation between Turkiye Halk and Turkiye Is
Assuming the 90 days trading horizon Turkiye Halk Bankasi is expected to generate 1.15 times more return on investment than Turkiye Is. However, Turkiye Halk is 1.15 times more volatile than Turkiye Is Bankasi. It trades about 0.18 of its potential returns per unit of risk. Turkiye Is Bankasi is currently generating about 0.15 per unit of risk. If you would invest 1,520 in Turkiye Halk Bankasi on November 8, 2024 and sell it today you would earn a total of 407.00 from holding Turkiye Halk Bankasi or generate 26.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Halk Bankasi vs. Turkiye Is Bankasi
Performance |
| Timeline |
| Turkiye Halk Bankasi |
| Turkiye Is Bankasi |
Turkiye Halk and Turkiye Is Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Halk and Turkiye Is
The main advantage of trading using opposite Turkiye Halk and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Halk 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.| Turkiye Halk vs. Turkiye Garanti Bankasi | Turkiye Halk vs. Turkiye Is Bankasi | Turkiye Halk vs. Turkiye Vakiflar Bankasi | Turkiye Halk vs. Akbank TAS |
| Turkiye Is vs. Turkiye Garanti Bankasi | Turkiye Is vs. Akbank TAS | Turkiye Is vs. Yapi ve Kredi | Turkiye Is vs. Turkiye Sise ve |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
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| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |