Correlation Between Turkcell Iletisim and Mavi Giyim
Can any of the company-specific risk be diversified away by investing in both Turkcell Iletisim and Mavi Giyim 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 Turkcell Iletisim and Mavi Giyim into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkcell Iletisim Hizmetleri and Mavi Giyim Sanayi, you can compare the effects of market volatilities on Turkcell Iletisim and Mavi Giyim 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 Turkcell Iletisim with a short position of Mavi Giyim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkcell Iletisim and Mavi Giyim.
Diversification Opportunities for Turkcell Iletisim and Mavi Giyim
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Turkcell and Mavi is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Turkcell Iletisim Hizmetleri and Mavi Giyim Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mavi Giyim Sanayi and Turkcell Iletisim 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 Turkcell Iletisim Hizmetleri are associated (or correlated) with Mavi Giyim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mavi Giyim Sanayi has no effect on the direction of Turkcell Iletisim i.e., Turkcell Iletisim and Mavi Giyim go up and down completely randomly.
Pair Corralation between Turkcell Iletisim and Mavi Giyim
Assuming the 90 days trading horizon Turkcell Iletisim Hizmetleri is expected to generate 0.97 times more return on investment than Mavi Giyim. However, Turkcell Iletisim Hizmetleri is 1.03 times less risky than Mavi Giyim. It trades about 0.09 of its potential returns per unit of risk. Mavi Giyim Sanayi is currently generating about 0.09 per unit of risk. If you would invest 8,780 in Turkcell Iletisim Hizmetleri on August 31, 2024 and sell it today you would earn a total of 350.00 from holding Turkcell Iletisim Hizmetleri or generate 3.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkcell Iletisim Hizmetleri vs. Mavi Giyim Sanayi
Performance |
| Timeline |
| Turkcell Iletisim |
| Mavi Giyim Sanayi |
Turkcell Iletisim and Mavi Giyim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkcell Iletisim and Mavi Giyim
The main advantage of trading using opposite Turkcell Iletisim and Mavi Giyim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkcell Iletisim position performs unexpectedly, Mavi Giyim 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 Mavi Giyim will offset losses from the drop in Mavi Giyim's long position.| Turkcell Iletisim vs. Trabzon Liman Isletmeciligi | Turkcell Iletisim vs. Bayrak EBT Taban | Turkcell Iletisim vs. Birikim Varlik Yonetim | Turkcell Iletisim vs. Inveo Yatirim Holding |
| Mavi Giyim vs. Ford Otomotiv Sanayi | Mavi Giyim vs. Eregli Demir ve | Mavi Giyim vs. Turkiye Petrol Rafinerileri | Mavi Giyim vs. Turkiye Sise 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 Stocks Directory module to find actively traded stocks across global markets.
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