Correlation Between Turkiye Halk and Pinar Sut
Can any of the company-specific risk be diversified away by investing in both Turkiye Halk and Pinar Sut 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 Pinar Sut 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 Pinar Sut Mamulleri, you can compare the effects of market volatilities on Turkiye Halk and Pinar Sut 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 Pinar Sut. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Halk and Pinar Sut.
Diversification Opportunities for Turkiye Halk and Pinar Sut
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Turkiye and Pinar is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Halk Bankasi and Pinar Sut Mamulleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pinar Sut Mamulleri 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 Pinar Sut. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pinar Sut Mamulleri has no effect on the direction of Turkiye Halk i.e., Turkiye Halk and Pinar Sut go up and down completely randomly.
Pair Corralation between Turkiye Halk and Pinar Sut
Assuming the 90 days trading horizon Turkiye Halk Bankasi is expected to generate 0.58 times more return on investment than Pinar Sut. However, Turkiye Halk Bankasi is 1.72 times less risky than Pinar Sut. It trades about 0.07 of its potential returns per unit of risk. Pinar Sut Mamulleri is currently generating about -0.02 per unit of risk. If you would invest 899.00 in Turkiye Halk Bankasi on November 4, 2024 and sell it today you would earn a total of 1,139 from holding Turkiye Halk Bankasi or generate 126.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Halk Bankasi vs. Pinar Sut Mamulleri
Performance |
| Timeline |
| Turkiye Halk Bankasi |
| Pinar Sut Mamulleri |
Turkiye Halk and Pinar Sut Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Halk and Pinar Sut
The main advantage of trading using opposite Turkiye Halk and Pinar Sut positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Halk position performs unexpectedly, Pinar Sut 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 Pinar Sut will offset losses from the drop in Pinar Sut's long position.| Turkiye Halk vs. ODAS Elektrik Uretim | Turkiye Halk vs. Qua Granite Hayal | Turkiye Halk vs. Hektas Ticaret TAS | Turkiye Halk vs. Aksa Enerji Uretim |
| Pinar Sut vs. Koza Anadolu Metal | Pinar Sut vs. Politeknik Metal Sanayi | Pinar Sut vs. Mackolik Internet Hizmetleri | Pinar Sut vs. Bms Birlesik Metal |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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