Correlation Between Sekerbank TAS and Yukselen Celik
Can any of the company-specific risk be diversified away by investing in both Sekerbank TAS and Yukselen Celik 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 Yukselen Celik into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sekerbank TAS and Yukselen Celik As, you can compare the effects of market volatilities on Sekerbank TAS and Yukselen Celik 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 Yukselen Celik. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and Yukselen Celik.
Diversification Opportunities for Sekerbank TAS and Yukselen Celik
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sekerbank and Yukselen is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and Yukselen Celik As in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yukselen Celik As 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 Yukselen Celik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yukselen Celik As has no effect on the direction of Sekerbank TAS i.e., Sekerbank TAS and Yukselen Celik go up and down completely randomly.
Pair Corralation between Sekerbank TAS and Yukselen Celik
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 0.64 times more return on investment than Yukselen Celik. However, Sekerbank TAS is 1.55 times less risky than Yukselen Celik. It trades about 0.1 of its potential returns per unit of risk. Yukselen Celik As is currently generating about -0.04 per unit of risk. If you would invest 414.00 in Sekerbank TAS on August 27, 2024 and sell it today you would earn a total of 13.00 from holding Sekerbank TAS or generate 3.14% 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. Yukselen Celik As
Performance |
| Timeline |
| Sekerbank TAS |
| Yukselen Celik As |
Sekerbank TAS and Yukselen Celik Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sekerbank TAS and Yukselen Celik
The main advantage of trading using opposite Sekerbank TAS and Yukselen Celik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS position performs unexpectedly, Yukselen Celik 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 Yukselen Celik will offset losses from the drop in Yukselen Celik'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 |
| Yukselen Celik vs. Sekerbank TAS | Yukselen Celik vs. MEGA METAL | Yukselen Celik vs. Akcansa Cimento Sanayi | Yukselen Celik vs. Silverline Endustri ve |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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