Correlation Between Marka Yatirim and Turkiye Garanti
Can any of the company-specific risk be diversified away by investing in both Marka 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 Marka 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 Marka Yatirim Holding and Turkiye Garanti Bankasi, you can compare the effects of market volatilities on Marka 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 Marka Yatirim with a short position of Turkiye Garanti. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marka Yatirim and Turkiye Garanti.
Diversification Opportunities for Marka Yatirim and Turkiye Garanti
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marka and Turkiye is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Marka Yatirim Holding 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 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 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 Marka Yatirim i.e., Marka Yatirim and Turkiye Garanti go up and down completely randomly.
Pair Corralation between Marka Yatirim and Turkiye Garanti
Assuming the 90 days trading horizon Marka Yatirim Holding is expected to generate 1.87 times more return on investment than Turkiye Garanti. However, Marka Yatirim is 1.87 times more volatile than Turkiye Garanti Bankasi. It trades about 0.12 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 470.00 in Marka Yatirim Holding on September 12, 2024 and sell it today you would earn a total of 5,180 from holding Marka Yatirim Holding or generate 1102.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marka Yatirim Holding vs. Turkiye Garanti Bankasi
Performance |
| Timeline |
| Marka Yatirim Holding |
| Turkiye Garanti Bankasi |
Marka Yatirim and Turkiye Garanti Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marka Yatirim and Turkiye Garanti
The main advantage of trading using opposite Marka Yatirim and Turkiye Garanti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marka 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.| Marka Yatirim vs. Politeknik Metal Sanayi | Marka Yatirim vs. Borlease Otomotiv AS | Marka Yatirim vs. MEGA METAL | Marka Yatirim vs. Gentas Genel Metal |
| Turkiye Garanti vs. Pamel Yenilenebilir Elektrik | Turkiye Garanti vs. Bosch Fren Sistemleri | Turkiye Garanti vs. Marka Yatirim Holding | Turkiye Garanti 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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