Correlation Between Marka Yatirim and Albaraka Turk
Can any of the company-specific risk be diversified away by investing in both Marka Yatirim and Albaraka Turk 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 Marka Yatirim and Albaraka Turk into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marka Yatirim Holding and Albaraka Turk Katilim, you can compare the effects of market volatilities on Marka Yatirim and Albaraka Turk 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 Marka Yatirim with a short position of Albaraka Turk. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marka Yatirim and Albaraka Turk.
Diversification Opportunities for Marka Yatirim and Albaraka Turk
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marka and Albaraka is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Marka Yatirim Holding and Albaraka Turk Katilim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Albaraka Turk Katilim and Marka 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 Marka Yatirim Holding are associated (or correlated) with Albaraka Turk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Albaraka Turk Katilim has no effect on the direction of Marka Yatirim i.e., Marka Yatirim and Albaraka Turk go up and down completely randomly.
Pair Corralation between Marka Yatirim and Albaraka Turk
Assuming the 90 days trading horizon Marka Yatirim Holding is expected to generate 2.18 times more return on investment than Albaraka Turk. However, Marka Yatirim is 2.18 times more volatile than Albaraka Turk Katilim. It trades about 0.08 of its potential returns per unit of risk. Albaraka Turk Katilim is currently generating about 0.08 per unit of risk. If you would invest 3,000 in Marka Yatirim Holding on September 14, 2024 and sell it today you would earn a total of 3,020 from holding Marka Yatirim Holding or generate 100.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marka Yatirim Holding vs. Albaraka Turk Katilim
Performance |
| Timeline |
| Marka Yatirim Holding |
| Albaraka Turk Katilim |
Marka Yatirim and Albaraka Turk Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marka Yatirim and Albaraka Turk
The main advantage of trading using opposite Marka Yatirim and Albaraka Turk positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marka Yatirim position performs unexpectedly, Albaraka Turk 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 Albaraka Turk will offset losses from the drop in Albaraka Turk's long position.| Marka Yatirim vs. Bms Birlesik Metal | Marka Yatirim vs. Turkiye Kalkinma Bankasi | Marka Yatirim vs. Akcansa Cimento Sanayi | Marka Yatirim vs. MEGA METAL |
| Albaraka Turk vs. Pamel Yenilenebilir Elektrik | Albaraka Turk vs. Bosch Fren Sistemleri | Albaraka Turk vs. Marka Yatirim Holding | Albaraka Turk vs. Dogus Gayrimenkul Yatirim |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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