Correlation Between SASA Polyester and Garanti Yatirim
Can any of the company-specific risk be diversified away by investing in both SASA Polyester and Garanti Yatirim 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 SASA Polyester and Garanti Yatirim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SASA Polyester Sanayi and Garanti Yatirim Ortakligi, you can compare the effects of market volatilities on SASA Polyester and Garanti Yatirim 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 SASA Polyester with a short position of Garanti Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of SASA Polyester and Garanti Yatirim.
Diversification Opportunities for SASA Polyester and Garanti Yatirim
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between SASA and Garanti is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding SASA Polyester Sanayi and Garanti Yatirim Ortakligi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Garanti Yatirim Ortakligi and SASA Polyester 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 SASA Polyester Sanayi are associated (or correlated) with Garanti Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Garanti Yatirim Ortakligi has no effect on the direction of SASA Polyester i.e., SASA Polyester and Garanti Yatirim go up and down completely randomly.
Pair Corralation between SASA Polyester and Garanti Yatirim
Assuming the 90 days trading horizon SASA Polyester Sanayi is expected to under-perform the Garanti Yatirim. In addition to that, SASA Polyester is 2.01 times more volatile than Garanti Yatirim Ortakligi. It trades about -0.15 of its total potential returns per unit of risk. Garanti Yatirim Ortakligi is currently generating about -0.24 per unit of volatility. If you would invest 932.00 in Garanti Yatirim Ortakligi on November 28, 2024 and sell it today you would lose (50.00) from holding Garanti Yatirim Ortakligi or give up 5.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SASA Polyester Sanayi vs. Garanti Yatirim Ortakligi
Performance |
| Timeline |
| SASA Polyester Sanayi |
| Garanti Yatirim Ortakligi |
SASA Polyester and Garanti Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SASA Polyester and Garanti Yatirim
The main advantage of trading using opposite SASA Polyester and Garanti Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SASA Polyester position performs unexpectedly, Garanti Yatirim 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 Garanti Yatirim will offset losses from the drop in Garanti Yatirim's long position.| SASA Polyester vs. Hektas Ticaret TAS | SASA Polyester vs. Eregli Demir ve | SASA Polyester vs. Turkiye Sise ve | SASA Polyester vs. Turkiye Petrol Rafinerileri |
| Garanti Yatirim vs. Akbank TAS | Garanti Yatirim vs. Turkiye Is Bankasi | Garanti Yatirim vs. Yapi ve Kredi | Garanti Yatirim vs. Turkish Airlines |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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