Correlation Between Sekerbank TAS and Mackolik Internet
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and Mackolik Internet 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 Mackolik Internet into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and Mackolik Internet Hizmetleri, you can compare the effects of market volatilities on Sekerbank TAS and Mackolik Internet 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 Mackolik Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and Mackolik Internet.
Diversification Opportunities for Sekerbank TAS and Mackolik Internet
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sekerbank and Mackolik is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and Mackolik Internet Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mackolik Internet 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 Mackolik Internet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mackolik Internet has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and Mackolik Internet go up and down completely randomly.
Pair Corralation between Sekerbank TAS and Mackolik Internet
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 27.39 times less return on investment than Mackolik Internet. In addition to that, Sekerbank TAS is 1.19 times more volatile than Mackolik Internet Hizmetleri. It trades about 0.0 of its total potential returns per unit of risk. Mackolik Internet Hizmetleri is currently generating about 0.14 per unit of volatility. If you would invest 8,134 in Mackolik Internet Hizmetleri on November 2, 2024 and sell it today you would earn a total of 2,966 from holding Mackolik Internet Hizmetleri or generate 36.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sekerbank TAS vs. Mackolik Internet Hizmetleri
Performance |
| Timeline |
| Sekerbank TAS |
| Mackolik Internet |
Sekerbank TAS and Mackolik Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and Mackolik Internet
The main advantage of trading using opposite Sekerbank TAS and Mackolik Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, Mackolik Internet 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 Mackolik Internet will offset losses from the drop in Mackolik Internet'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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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