Correlation Between Turkiye Is and Akis Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Turkiye Is and Akis Gayrimenkul 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 Is and Akis Gayrimenkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkiye Is Bankasi and Akis Gayrimenkul Yatirim, you can compare the effects of market volatilities on Turkiye Is and Akis Gayrimenkul 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 Is with a short position of Akis Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Is and Akis Gayrimenkul.
Diversification Opportunities for Turkiye Is and Akis Gayrimenkul
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Turkiye and Akis is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Is Bankasi and Akis Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akis Gayrimenkul Yatirim and Turkiye Is 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 Is Bankasi are associated (or correlated) with Akis Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akis Gayrimenkul Yatirim has no effect on the direction of Turkiye Is i.e., Turkiye Is and Akis Gayrimenkul go up and down completely randomly.
Pair Corralation between Turkiye Is and Akis Gayrimenkul
Assuming the 90 days trading horizon Turkiye Is Bankasi is expected to under-perform the Akis Gayrimenkul. In addition to that, Turkiye Is is 1.39 times more volatile than Akis Gayrimenkul Yatirim. It trades about -0.13 of its total potential returns per unit of risk. Akis Gayrimenkul Yatirim is currently generating about 0.2 per unit of volatility. If you would invest 627.00 in Akis Gayrimenkul Yatirim on September 13, 2024 and sell it today you would earn a total of 67.00 from holding Akis Gayrimenkul Yatirim or generate 10.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Is Bankasi vs. Akis Gayrimenkul Yatirim
Performance |
| Timeline |
| Turkiye Is Bankasi |
| Akis Gayrimenkul Yatirim |
Turkiye Is and Akis Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Is and Akis Gayrimenkul
The main advantage of trading using opposite Turkiye Is and Akis Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Is position performs unexpectedly, Akis Gayrimenkul 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 Akis Gayrimenkul will offset losses from the drop in Akis Gayrimenkul's long position.| Turkiye Is vs. Politeknik Metal Sanayi | Turkiye Is vs. Sodas Sodyum Sanayi | Turkiye Is vs. Gentas Genel Metal | Turkiye Is vs. Galatasaray Sportif Sinai |
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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