Correlation Between Turkiye Is and Turkiye Garanti
Can any of the company-specific risk be diversified away by investing in both Turkiye Is and Turkiye Garanti 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 Turkiye Garanti 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 Turkiye Garanti Bankasi, you can compare the effects of market volatilities on Turkiye Is and Turkiye Garanti 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 Turkiye Garanti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Is and Turkiye Garanti.
Diversification Opportunities for Turkiye Is and Turkiye Garanti
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Turkiye and Turkiye is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Is Bankasi and Turkiye Garanti Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Garanti Bankasi 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 Turkiye Garanti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Garanti Bankasi has no effect on the direction of Turkiye Is i.e., Turkiye Is and Turkiye Garanti go up and down completely randomly.
Pair Corralation between Turkiye Is and Turkiye Garanti
Assuming the 90 days trading horizon Turkiye Is Bankasi is expected to generate 0.99 times more return on investment than Turkiye Garanti. However, Turkiye Is Bankasi is 1.01 times less risky than Turkiye Garanti. It trades about 0.26 of its potential returns per unit of risk. Turkiye Garanti Bankasi is currently generating about 0.18 per unit of risk. If you would invest 1,179 in Turkiye Is Bankasi on August 28, 2024 and sell it today you would earn a total of 171.00 from holding Turkiye Is Bankasi or generate 14.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Is Bankasi vs. Turkiye Garanti Bankasi
Performance |
| Timeline |
| Turkiye Is Bankasi |
| Turkiye Garanti Bankasi |
Turkiye Is and Turkiye Garanti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Is and Turkiye Garanti
The main advantage of trading using opposite Turkiye Is and Turkiye Garanti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Is position performs unexpectedly, Turkiye Garanti 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 Garanti will offset losses from the drop in Turkiye Garanti's long position.| Turkiye Is vs. Turkiye Garanti Bankasi | Turkiye Is vs. Akbank TAS | Turkiye Is vs. Yapi ve Kredi | Turkiye Is vs. Turkiye Sise ve |
| Turkiye Garanti vs. Akbank TAS | Turkiye Garanti vs. Turkiye Is Bankasi | Turkiye Garanti vs. Yapi ve Kredi | Turkiye Garanti vs. Turkish Airlines |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |