Correlation Between Haci Omer and Turkcell Iletisim
Can any of the company-specific risk be diversified away by investing in both Haci Omer and Turkcell Iletisim 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 Haci Omer and Turkcell Iletisim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Haci Omer Sabanci and Turkcell Iletisim Hizmetleri, you can compare the effects of market volatilities on Haci Omer and Turkcell Iletisim 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 Haci Omer with a short position of Turkcell Iletisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haci Omer and Turkcell Iletisim.
Diversification Opportunities for Haci Omer and Turkcell Iletisim
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Haci and Turkcell is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Haci Omer Sabanci and Turkcell Iletisim Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkcell Iletisim and Haci Omer 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 Haci Omer Sabanci are associated (or correlated) with Turkcell Iletisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkcell Iletisim has no effect on the direction of Haci Omer i.e., Haci Omer and Turkcell Iletisim go up and down completely randomly.
Pair Corralation between Haci Omer and Turkcell Iletisim
Assuming the 90 days trading horizon Haci Omer is expected to generate 3.11 times less return on investment than Turkcell Iletisim. In addition to that, Haci Omer is 1.46 times more volatile than Turkcell Iletisim Hizmetleri. It trades about 0.09 of its total potential returns per unit of risk. Turkcell Iletisim Hizmetleri is currently generating about 0.41 per unit of volatility. If you would invest 9,375 in Turkcell Iletisim Hizmetleri on October 26, 2024 and sell it today you would earn a total of 1,245 from holding Turkcell Iletisim Hizmetleri or generate 13.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Haci Omer Sabanci vs. Turkcell Iletisim Hizmetleri
Performance |
| Timeline |
| Haci Omer Sabanci |
| Turkcell Iletisim |
Haci Omer and Turkcell Iletisim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haci Omer and Turkcell Iletisim
The main advantage of trading using opposite Haci Omer and Turkcell Iletisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haci Omer position performs unexpectedly, Turkcell Iletisim 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 Turkcell Iletisim will offset losses from the drop in Turkcell Iletisim's long position.| Haci Omer vs. Koc Holding AS | Haci Omer vs. Turkiye Sise ve | Haci Omer vs. Akbank TAS | Haci Omer vs. Turkiye Petrol Rafinerileri |
| Turkcell Iletisim vs. Turk Telekomunikasyon AS | Turkcell Iletisim vs. Aselsan Elektronik Sanayi | Turkcell Iletisim vs. Koc Holding AS | Turkcell Iletisim vs. Turkiye Petrol Rafinerileri |
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 Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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