Correlation Between Sekerbank TAS and Ihlas Yayin
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and Ihlas Yayin 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 Ihlas Yayin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and Ihlas Yayin Holding, you can compare the effects of market volatilities on Sekerbank TAS and Ihlas Yayin 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 Ihlas Yayin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and Ihlas Yayin.
Diversification Opportunities for Sekerbank TAS and Ihlas Yayin
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sekerbank and Ihlas is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and Ihlas Yayin Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ihlas Yayin Holding 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 Ihlas Yayin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ihlas Yayin Holding has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and Ihlas Yayin go up and down completely randomly.
Pair Corralation between Sekerbank TAS and Ihlas Yayin
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 0.59 times more return on investment than Ihlas Yayin. However, Sekerbank TAS is 1.7 times less risky than Ihlas Yayin. It trades about 0.3 of its potential returns per unit of risk. Ihlas Yayin Holding is currently generating about -0.22 per unit of risk. If you would invest 403.00 in Sekerbank TAS on September 21, 2024 and sell it today you would earn a total of 79.00 from holding Sekerbank TAS or generate 19.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sekerbank TAS vs. Ihlas Yayin Holding
Performance |
| Timeline |
| Sekerbank TAS |
| Ihlas Yayin Holding |
Sekerbank TAS and Ihlas Yayin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and Ihlas Yayin
The main advantage of trading using opposite Sekerbank TAS and Ihlas Yayin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, Ihlas Yayin 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 Ihlas Yayin will offset losses from the drop in Ihlas Yayin'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 |
| Ihlas Yayin vs. Gentas Genel Metal | Ihlas Yayin vs. Creditwest Faktoring AS | Ihlas Yayin vs. Sekerbank TAS | Ihlas Yayin vs. Qnb Finansbank AS |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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