Correlation Between Turkiye Kalkinma and Marti Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Turkiye Kalkinma 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 Kalkinma 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 Kalkinma Bankasi and Marti Gayrimenkul Yatirim, you can compare the effects of market volatilities on Turkiye Kalkinma 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 Kalkinma with a short position of Marti Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Kalkinma and Marti Gayrimenkul.
Diversification Opportunities for Turkiye Kalkinma and Marti Gayrimenkul
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Turkiye and Marti is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Kalkinma 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 Kalkinma 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 Kalkinma 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 Kalkinma i.e., Turkiye Kalkinma and Marti Gayrimenkul go up and down completely randomly.
Pair Corralation between Turkiye Kalkinma and Marti Gayrimenkul
Assuming the 90 days trading horizon Turkiye Kalkinma Bankasi is expected to generate 0.45 times more return on investment than Marti Gayrimenkul. However, Turkiye Kalkinma Bankasi is 2.21 times less risky than Marti Gayrimenkul. It trades about -0.03 of its potential returns per unit of risk. Marti Gayrimenkul Yatirim is currently generating about -0.02 per unit of risk. If you would invest 1,371 in Turkiye Kalkinma Bankasi on October 24, 2024 and sell it today you would lose (13.00) from holding Turkiye Kalkinma Bankasi or give up 0.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Kalkinma Bankasi vs. Marti Gayrimenkul Yatirim
Performance |
| Timeline |
| Turkiye Kalkinma Bankasi |
| Marti Gayrimenkul Yatirim |
Turkiye Kalkinma and Marti Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Kalkinma and Marti Gayrimenkul
The main advantage of trading using opposite Turkiye Kalkinma and Marti Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Kalkinma 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 Kalkinma vs. Turkiye Vakiflar Bankasi | Turkiye Kalkinma vs. Turkiye Halk Bankasi | Turkiye Kalkinma vs. Turkiye Sinai Kalkinma | Turkiye Kalkinma vs. ENKA Insaat ve |
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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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