Correlation Between Turkiye Halk and Turkiye Vakiflar
Can any of the company-specific risk be diversified away by investing in both Turkiye Halk and Turkiye Vakiflar 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 Vakiflar 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 Vakiflar Bankasi, you can compare the effects of market volatilities on Turkiye Halk and Turkiye Vakiflar 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 Vakiflar. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Halk and Turkiye Vakiflar.
Diversification Opportunities for Turkiye Halk and Turkiye Vakiflar
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Turkiye and Turkiye is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Halk Bankasi and Turkiye Vakiflar Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Vakiflar 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 Vakiflar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Vakiflar Bankasi has no effect on the direction of Turkiye Halk i.e., Turkiye Halk and Turkiye Vakiflar go up and down completely randomly.
Pair Corralation between Turkiye Halk and Turkiye Vakiflar
Assuming the 90 days trading horizon Turkiye Halk is expected to generate 2.08 times less return on investment than Turkiye Vakiflar. But when comparing it to its historical volatility, Turkiye Halk Bankasi is 1.05 times less risky than Turkiye Vakiflar. It trades about 0.05 of its potential returns per unit of risk. Turkiye Vakiflar Bankasi is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 837.00 in Turkiye Vakiflar Bankasi on August 29, 2024 and sell it today you would earn a total of 1,525 from holding Turkiye Vakiflar Bankasi or generate 182.2% 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 Vakiflar Bankasi
Performance |
| Timeline |
| Turkiye Halk Bankasi |
| Turkiye Vakiflar Bankasi |
Turkiye Halk and Turkiye Vakiflar Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Halk and Turkiye Vakiflar
The main advantage of trading using opposite Turkiye Halk and Turkiye Vakiflar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Halk position performs unexpectedly, Turkiye Vakiflar 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 Vakiflar will offset losses from the drop in Turkiye Vakiflar'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 |
| Turkiye Vakiflar vs. Turkiye Is Bankasi | Turkiye Vakiflar vs. Turkiye Is Bankasi | Turkiye Vakiflar vs. Haci Omer Sabanci | Turkiye Vakiflar vs. Turkiye Halk 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |