Correlation Between Turkiye Halk and Kimteks Poliuretan
Can any of the company-specific risk be diversified away by investing in both Turkiye Halk and Kimteks Poliuretan 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 Kimteks Poliuretan 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 Kimteks Poliuretan Sanayi, you can compare the effects of market volatilities on Turkiye Halk and Kimteks Poliuretan 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 Kimteks Poliuretan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Halk and Kimteks Poliuretan.
Diversification Opportunities for Turkiye Halk and Kimteks Poliuretan
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Turkiye and Kimteks is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Halk Bankasi and Kimteks Poliuretan Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kimteks Poliuretan Sanayi 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 Kimteks Poliuretan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kimteks Poliuretan Sanayi has no effect on the direction of Turkiye Halk i.e., Turkiye Halk and Kimteks Poliuretan go up and down completely randomly.
Pair Corralation between Turkiye Halk and Kimteks Poliuretan
Assuming the 90 days trading horizon Turkiye Halk Bankasi is expected to generate 1.17 times more return on investment than Kimteks Poliuretan. However, Turkiye Halk is 1.17 times more volatile than Kimteks Poliuretan Sanayi. It trades about 0.22 of its potential returns per unit of risk. Kimteks Poliuretan Sanayi is currently generating about -0.07 per unit of risk. If you would invest 1,656 in Turkiye Halk Bankasi on October 20, 2024 and sell it today you would earn a total of 144.00 from holding Turkiye Halk Bankasi or generate 8.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Halk Bankasi vs. Kimteks Poliuretan Sanayi
Performance |
| Timeline |
| Turkiye Halk Bankasi |
| Kimteks Poliuretan Sanayi |
Turkiye Halk and Kimteks Poliuretan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Halk and Kimteks Poliuretan
The main advantage of trading using opposite Turkiye Halk and Kimteks Poliuretan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Halk position performs unexpectedly, Kimteks Poliuretan 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 Kimteks Poliuretan will offset losses from the drop in Kimteks Poliuretan'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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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