Correlation Between Turkiye Is and Beyaz Filo
Can any of the company-specific risk be diversified away by investing in both Turkiye Is and Beyaz Filo 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 Beyaz Filo 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 Beyaz Filo Oto, you can compare the effects of market volatilities on Turkiye Is and Beyaz Filo 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 Beyaz Filo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Is and Beyaz Filo.
Diversification Opportunities for Turkiye Is and Beyaz Filo
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Turkiye and Beyaz is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Is Bankasi and Beyaz Filo Oto in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beyaz Filo Oto 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 Beyaz Filo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beyaz Filo Oto has no effect on the direction of Turkiye Is i.e., Turkiye Is and Beyaz Filo go up and down completely randomly.
Pair Corralation between Turkiye Is and Beyaz Filo
Assuming the 90 days trading horizon Turkiye Is Bankasi is expected to generate 0.79 times more return on investment than Beyaz Filo. However, Turkiye Is Bankasi is 1.26 times less risky than Beyaz Filo. It trades about 0.28 of its potential returns per unit of risk. Beyaz Filo Oto is currently generating about -0.05 per unit of risk. If you would invest 50,000,000 in Turkiye Is Bankasi on October 23, 2024 and sell it today you would earn a total of 6,000,500 from holding Turkiye Is Bankasi or generate 12.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Is Bankasi vs. Beyaz Filo Oto
Performance |
| Timeline |
| Turkiye Is Bankasi |
| Beyaz Filo Oto |
Turkiye Is and Beyaz Filo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Is and Beyaz Filo
The main advantage of trading using opposite Turkiye Is and Beyaz Filo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Is position performs unexpectedly, Beyaz Filo 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 Beyaz Filo will offset losses from the drop in Beyaz Filo's long position.| Turkiye Is vs. MEGA METAL | Turkiye Is vs. Cuhadaroglu Metal Sanayi | Turkiye Is vs. CEO Event Medya | Turkiye Is vs. Koza Anadolu Metal |
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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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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