Correlation Between Turkiye Is and Marti Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Turkiye Is and Marti 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 Marti 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 Marti Gayrimenkul Yatirim, you can compare the effects of market volatilities on Turkiye Is and Marti 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 Marti Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Is and Marti Gayrimenkul.
Diversification Opportunities for Turkiye Is and Marti Gayrimenkul
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Turkiye and Marti is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Is Bankasi and Marti Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marti 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 Marti Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marti Gayrimenkul Yatirim has no effect on the direction of Turkiye Is i.e., Turkiye Is and Marti Gayrimenkul go up and down completely randomly.
Pair Corralation between Turkiye Is and Marti Gayrimenkul
Assuming the 90 days trading horizon Turkiye Is Bankasi is expected to generate 0.76 times more return on investment than Marti Gayrimenkul. However, Turkiye Is Bankasi is 1.32 times less risky than Marti Gayrimenkul. It trades about -0.02 of its potential returns per unit of risk. Marti Gayrimenkul Yatirim is currently generating about -0.26 per unit of risk. If you would invest 51,900,000 in Turkiye Is Bankasi on November 4, 2024 and sell it today you would lose (700,000) from holding Turkiye Is Bankasi or give up 1.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Is Bankasi vs. Marti Gayrimenkul Yatirim
Performance |
| Timeline |
| Turkiye Is Bankasi |
| Marti Gayrimenkul Yatirim |
Turkiye Is and Marti Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Is and Marti Gayrimenkul
The main advantage of trading using opposite Turkiye Is and Marti Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Is position performs unexpectedly, Marti 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 Marti Gayrimenkul will offset losses from the drop in Marti Gayrimenkul's long position.| Turkiye Is vs. Cuhadaroglu Metal Sanayi | Turkiye Is vs. Bms Birlesik Metal | Turkiye Is vs. Trabzonspor Sportif Yatirim | Turkiye Is vs. Turkiye Kalkinma Bankasi |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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