Correlation Between Turkiye Kalkinma and Seker Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Turkiye Kalkinma and Seker 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 Seker 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 Seker Gayrimenkul Yatirim, you can compare the effects of market volatilities on Turkiye Kalkinma and Seker 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 Seker Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Kalkinma and Seker Gayrimenkul.
Diversification Opportunities for Turkiye Kalkinma and Seker Gayrimenkul
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Turkiye and Seker is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Kalkinma Bankasi and Seker Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seker 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 Seker Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seker Gayrimenkul Yatirim has no effect on the direction of Turkiye Kalkinma i.e., Turkiye Kalkinma and Seker Gayrimenkul go up and down completely randomly.
Pair Corralation between Turkiye Kalkinma and Seker Gayrimenkul
Assuming the 90 days trading horizon Turkiye Kalkinma Bankasi is expected to under-perform the Seker Gayrimenkul. But the stock apears to be less risky and, when comparing its historical volatility, Turkiye Kalkinma Bankasi is 1.32 times less risky than Seker Gayrimenkul. The stock trades about -0.02 of its potential returns per unit of risk. The Seker Gayrimenkul Yatirim is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 413.00 in Seker Gayrimenkul Yatirim on September 14, 2024 and sell it today you would earn a total of 42.00 from holding Seker Gayrimenkul Yatirim or generate 10.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Kalkinma Bankasi vs. Seker Gayrimenkul Yatirim
Performance |
| Timeline |
| Turkiye Kalkinma Bankasi |
| Seker Gayrimenkul Yatirim |
Turkiye Kalkinma and Seker Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Kalkinma and Seker Gayrimenkul
The main advantage of trading using opposite Turkiye Kalkinma and Seker Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Kalkinma position performs unexpectedly, Seker 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 Seker Gayrimenkul will offset losses from the drop in Seker 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 |
| Seker Gayrimenkul vs. Kent Gida Maddeleri | Seker Gayrimenkul vs. QNB Finans Finansal | Seker Gayrimenkul vs. Turkiye Kalkinma Bankasi | Seker Gayrimenkul vs. Kocaer Celik Sanayi |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |