Correlation Between Kuyas Yatirim and Turkiye Garanti
Can any of the company-specific risk be diversified away by investing in both Kuyas Yatirim 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 Kuyas Yatirim and Turkiye Garanti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kuyas Yatirim AS and Turkiye Garanti Bankasi, you can compare the effects of market volatilities on Kuyas Yatirim 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 Kuyas Yatirim with a short position of Turkiye Garanti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kuyas Yatirim and Turkiye Garanti.
Diversification Opportunities for Kuyas Yatirim and Turkiye Garanti
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kuyas and Turkiye is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Kuyas Yatirim AS 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 Kuyas Yatirim 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 Kuyas Yatirim AS 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 Kuyas Yatirim i.e., Kuyas Yatirim and Turkiye Garanti go up and down completely randomly.
Pair Corralation between Kuyas Yatirim and Turkiye Garanti
Assuming the 90 days trading horizon Kuyas Yatirim AS is expected to generate 4.09 times more return on investment than Turkiye Garanti. However, Kuyas Yatirim is 4.09 times more volatile than Turkiye Garanti Bankasi. It trades about 0.05 of its potential returns per unit of risk. Turkiye Garanti Bankasi is currently generating about 0.12 per unit of risk. If you would invest 636.00 in Kuyas Yatirim AS on September 3, 2024 and sell it today you would earn a total of 1,084 from holding Kuyas Yatirim AS or generate 170.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kuyas Yatirim AS vs. Turkiye Garanti Bankasi
Performance |
| Timeline |
| Kuyas Yatirim AS |
| Turkiye Garanti Bankasi |
Kuyas Yatirim and Turkiye Garanti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kuyas Yatirim and Turkiye Garanti
The main advantage of trading using opposite Kuyas Yatirim and Turkiye Garanti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kuyas Yatirim 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.| Kuyas Yatirim vs. Creditwest Faktoring AS | Kuyas Yatirim vs. Brisa Bridgestone Sabanci | Kuyas Yatirim vs. Pinar Entegre Et | Kuyas Yatirim vs. Turk Telekomunikasyon AS |
| Turkiye Garanti vs. Desa Deri Sanayi | Turkiye Garanti vs. Tumosan Motor ve | Turkiye Garanti vs. Ihlas Gazetecilik AS | Turkiye Garanti vs. Kuyas Yatirim AS |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |