Correlation Between Oylum Sinai and Turkiye Kalkinma
Can any of the company-specific risk be diversified away by investing in both Oylum Sinai 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 Oylum Sinai and Turkiye Kalkinma into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oylum Sinai Yatirimlar and Turkiye Kalkinma Bankasi, you can compare the effects of market volatilities on Oylum Sinai 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 Oylum Sinai with a short position of Turkiye Kalkinma. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oylum Sinai and Turkiye Kalkinma.
Diversification Opportunities for Oylum Sinai and Turkiye Kalkinma
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oylum and Turkiye is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Oylum Sinai Yatirimlar 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 Oylum Sinai 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 Oylum Sinai Yatirimlar 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 Oylum Sinai i.e., Oylum Sinai and Turkiye Kalkinma go up and down completely randomly.
Pair Corralation between Oylum Sinai and Turkiye Kalkinma
Assuming the 90 days trading horizon Oylum Sinai Yatirimlar is expected to generate 1.02 times more return on investment than Turkiye Kalkinma. However, Oylum Sinai is 1.02 times more volatile than Turkiye Kalkinma Bankasi. It trades about 0.02 of its potential returns per unit of risk. Turkiye Kalkinma Bankasi is currently generating about -0.18 per unit of risk. If you would invest 817.00 in Oylum Sinai Yatirimlar on October 26, 2024 and sell it today you would earn a total of 8.00 from holding Oylum Sinai Yatirimlar or generate 0.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.73% |
| Values | Daily Returns |
Oylum Sinai Yatirimlar vs. Turkiye Kalkinma Bankasi
Performance |
| Timeline |
| Oylum Sinai Yatirimlar |
| Turkiye Kalkinma Bankasi |
Oylum Sinai and Turkiye Kalkinma Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oylum Sinai and Turkiye Kalkinma
The main advantage of trading using opposite Oylum Sinai and Turkiye Kalkinma positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oylum Sinai 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.| Oylum Sinai vs. Turkiye Kalkinma Bankasi | Oylum Sinai vs. MEGA METAL | Oylum Sinai vs. Bms Birlesik Metal | Oylum Sinai vs. Koza Anadolu Metal |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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