Correlation Between Sekerbank TAS and Dogus Gayrimenkul
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and Dogus Gayrimenkul 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 Sekerbank TAS and Dogus Gayrimenkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and Dogus Gayrimenkul Yatirim, you can compare the effects of market volatilities on Sekerbank TAS and Dogus Gayrimenkul 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 Sekerbank TAS with a short position of Dogus Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and Dogus Gayrimenkul.
Diversification Opportunities for Sekerbank TAS and Dogus Gayrimenkul
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sekerbank and Dogus is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and Dogus Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dogus Gayrimenkul Yatirim and Sekerbank TAS 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 Sekerbank TAS are associated (or correlated) with Dogus Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dogus Gayrimenkul Yatirim has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and Dogus Gayrimenkul go up and down completely randomly.
Pair Corralation between Sekerbank TAS and Dogus Gayrimenkul
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 1.09 times more return on investment than Dogus Gayrimenkul. However, Sekerbank TAS is 1.09 times more volatile than Dogus Gayrimenkul Yatirim. It trades about 0.27 of its potential returns per unit of risk. Dogus Gayrimenkul Yatirim is currently generating about 0.14 per unit of risk. If you would invest 426.00 in Sekerbank TAS on September 14, 2024 and sell it today you would earn a total of 73.00 from holding Sekerbank TAS or generate 17.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sekerbank TAS vs. Dogus Gayrimenkul Yatirim
Performance |
| Timeline |
| Sekerbank TAS |
| Dogus Gayrimenkul Yatirim |
Sekerbank TAS and Dogus Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and Dogus Gayrimenkul
The main advantage of trading using opposite Sekerbank TAS and Dogus Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, Dogus Gayrimenkul 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 Dogus Gayrimenkul will offset losses from the drop in Dogus Gayrimenkul's long position.| Sekerbank TAS vs. Turkiye Sinai Kalkinma | Sekerbank TAS vs. Yapi ve Kredi | Sekerbank TAS vs. Kardemir Karabuk Demir | Sekerbank TAS vs. Turkiye Is Bankasi |
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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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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