Correlation Between Is Girisim and Turkiye Kalkinma
Can any of the company-specific risk be diversified away by investing in both Is Girisim and Turkiye Kalkinma 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 Is Girisim and Turkiye Kalkinma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Is Girisim Sermayesi and Turkiye Kalkinma Bankasi, you can compare the effects of market volatilities on Is Girisim and Turkiye Kalkinma 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 Is Girisim with a short position of Turkiye Kalkinma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Is Girisim and Turkiye Kalkinma.
Diversification Opportunities for Is Girisim and Turkiye Kalkinma
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ISGSY and Turkiye is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Is Girisim Sermayesi and Turkiye Kalkinma Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Kalkinma Bankasi and Is Girisim 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 Is Girisim Sermayesi are associated (or correlated) with Turkiye Kalkinma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Kalkinma Bankasi has no effect on the direction of Is Girisim i.e., Is Girisim and Turkiye Kalkinma go up and down completely randomly.
Pair Corralation between Is Girisim and Turkiye Kalkinma
Assuming the 90 days trading horizon Is Girisim Sermayesi is expected to generate 2.43 times more return on investment than Turkiye Kalkinma. However, Is Girisim is 2.43 times more volatile than Turkiye Kalkinma Bankasi. It trades about 0.18 of its potential returns per unit of risk. Turkiye Kalkinma Bankasi is currently generating about -0.27 per unit of risk. If you would invest 3,232 in Is Girisim Sermayesi on September 25, 2024 and sell it today you would earn a total of 478.00 from holding Is Girisim Sermayesi or generate 14.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Is Girisim Sermayesi vs. Turkiye Kalkinma Bankasi
Performance |
| Timeline |
| Is Girisim Sermayesi |
| Turkiye Kalkinma Bankasi |
Is Girisim and Turkiye Kalkinma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Is Girisim and Turkiye Kalkinma
The main advantage of trading using opposite Is Girisim and Turkiye Kalkinma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Is Girisim position performs unexpectedly, Turkiye Kalkinma 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 Kalkinma will offset losses from the drop in Turkiye Kalkinma's long position.| Is Girisim vs. Politeknik Metal Sanayi | Is Girisim vs. Turkish Airlines | Is Girisim vs. Gentas Genel Metal | Is Girisim vs. MEGA 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 Stocks Directory module to find actively traded stocks across global markets.
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