Correlation Between Kasikornbank Public and Turkiye Garanti
Can any of the company-specific risk be diversified away by investing in both Kasikornbank Public 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 Kasikornbank Public and Turkiye Garanti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kasikornbank Public Co and Turkiye Garanti Bankasi, you can compare the effects of market volatilities on Kasikornbank Public 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 Kasikornbank Public with a short position of Turkiye Garanti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Turkiye Garanti.
Diversification Opportunities for Kasikornbank Public and Turkiye Garanti
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kasikornbank and Turkiye is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public Co 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 Kasikornbank Public 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 Kasikornbank Public Co 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 Kasikornbank Public i.e., Kasikornbank Public and Turkiye Garanti go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Turkiye Garanti
If you would invest 56.00 in Turkiye Garanti Bankasi on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Turkiye Garanti Bankasi or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Kasikornbank Public Co vs. Turkiye Garanti Bankasi
Performance |
| Timeline |
| Kasikornbank Public |
| Turkiye Garanti Bankasi |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kasikornbank Public and Turkiye Garanti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Turkiye Garanti
The main advantage of trading using opposite Kasikornbank Public and Turkiye Garanti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public 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.| Kasikornbank Public vs. Piraeus Bank SA | Kasikornbank Public vs. Turkiye Garanti Bankasi | Kasikornbank Public vs. Delhi Bank Corp | Kasikornbank Public vs. Uwharrie Capital Corp |
| Turkiye Garanti vs. Permanent TSB Group | Turkiye Garanti vs. Bank of Botetourt | Turkiye Garanti vs. Caixabank SA ADR | Turkiye Garanti vs. Hang Seng Bank |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |