Correlation Between Marti Gayrimenkul and Turkiye Kalkinma
Can any of the company-specific risk be diversified away by investing in both Marti Gayrimenkul and Turkiye Kalkinma 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 Marti Gayrimenkul and Turkiye Kalkinma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marti Gayrimenkul Yatirim and Turkiye Kalkinma Bankasi, you can compare the effects of market volatilities on Marti Gayrimenkul and Turkiye Kalkinma 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 Marti Gayrimenkul with a short position of Turkiye Kalkinma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marti Gayrimenkul and Turkiye Kalkinma.
Diversification Opportunities for Marti Gayrimenkul and Turkiye Kalkinma
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marti and Turkiye is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Marti Gayrimenkul Yatirim and Turkiye Kalkinma Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Kalkinma Bankasi and Marti Gayrimenkul 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 Marti Gayrimenkul Yatirim are associated (or correlated) with Turkiye Kalkinma. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Kalkinma Bankasi has no effect on the direction of Marti Gayrimenkul i.e., Marti Gayrimenkul and Turkiye Kalkinma go up and down completely randomly.
Pair Corralation between Marti Gayrimenkul and Turkiye Kalkinma
Assuming the 90 days trading horizon Marti Gayrimenkul Yatirim is expected to generate 1.75 times more return on investment than Turkiye Kalkinma. However, Marti Gayrimenkul is 1.75 times more volatile than Turkiye Kalkinma Bankasi. It trades about 0.05 of its potential returns per unit of risk. Turkiye Kalkinma Bankasi is currently generating about -0.1 per unit of risk. If you would invest 157.00 in Marti Gayrimenkul Yatirim on October 24, 2024 and sell it today you would earn a total of 13.00 from holding Marti Gayrimenkul Yatirim or generate 8.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marti Gayrimenkul Yatirim vs. Turkiye Kalkinma Bankasi
Performance |
| Timeline |
| Marti Gayrimenkul Yatirim |
| Turkiye Kalkinma Bankasi |
Marti Gayrimenkul and Turkiye Kalkinma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marti Gayrimenkul and Turkiye Kalkinma
The main advantage of trading using opposite Marti Gayrimenkul and Turkiye Kalkinma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marti Gayrimenkul position performs unexpectedly, Turkiye Kalkinma 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 Kalkinma will offset losses from the drop in Turkiye Kalkinma's long position.| Marti Gayrimenkul vs. Turkiye Kalkinma Bankasi | Marti Gayrimenkul vs. Mackolik Internet Hizmetleri | Marti Gayrimenkul vs. Qnb Finansbank AS | Marti Gayrimenkul vs. ICBC Turkey Bank |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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