Correlation Between Sekerbank TAS and Duran Dogan
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and Duran Dogan 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 Duran Dogan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and Duran Dogan Basim ve, you can compare the effects of market volatilities on Sekerbank TAS and Duran Dogan 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 Duran Dogan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and Duran Dogan.
Diversification Opportunities for Sekerbank TAS and Duran Dogan
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sekerbank and Duran is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and Duran Dogan Basim ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duran Dogan Basim 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 Duran Dogan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duran Dogan Basim has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and Duran Dogan go up and down completely randomly.
Pair Corralation between Sekerbank TAS and Duran Dogan
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 0.41 times more return on investment than Duran Dogan. However, Sekerbank TAS is 2.47 times less risky than Duran Dogan. It trades about 0.25 of its potential returns per unit of risk. Duran Dogan Basim ve is currently generating about -0.01 per unit of risk. If you would invest 424.00 in Sekerbank TAS on September 12, 2024 and sell it today you would earn a total of 69.00 from holding Sekerbank TAS or generate 16.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sekerbank TAS vs. Duran Dogan Basim ve
Performance |
| Timeline |
| Sekerbank TAS |
| Duran Dogan Basim |
Sekerbank TAS and Duran Dogan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and Duran Dogan
The main advantage of trading using opposite Sekerbank TAS and Duran Dogan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, Duran Dogan 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 Duran Dogan will offset losses from the drop in Duran Dogan's long position.| Sekerbank TAS vs. Pamel Yenilenebilir Elektrik | Sekerbank TAS vs. Bosch Fren Sistemleri | Sekerbank TAS vs. Marka Yatirim Holding | Sekerbank TAS vs. Dogus Gayrimenkul Yatirim |
| Duran Dogan vs. Akbank TAS | Duran Dogan vs. Silverline Endustri ve | Duran Dogan vs. Turkish Airlines | Duran Dogan vs. Gentas Genel Metal |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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