Correlation Between Turkiye Sinai and Ihlas Yayin
Can any of the company-specific risk be diversified away by investing in both Turkiye Sinai 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 Turkiye Sinai and Ihlas Yayin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkiye Sinai Kalkinma and Ihlas Yayin Holding, you can compare the effects of market volatilities on Turkiye Sinai 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 Turkiye Sinai with a short position of Ihlas Yayin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Sinai and Ihlas Yayin.
Diversification Opportunities for Turkiye Sinai and Ihlas Yayin
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Turkiye and Ihlas is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Sinai Kalkinma 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 Turkiye Sinai 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 Turkiye Sinai Kalkinma 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 Turkiye Sinai i.e., Turkiye Sinai and Ihlas Yayin go up and down completely randomly.
Pair Corralation between Turkiye Sinai and Ihlas Yayin
Assuming the 90 days trading horizon Turkiye Sinai Kalkinma is expected to generate 0.53 times more return on investment than Ihlas Yayin. However, Turkiye Sinai Kalkinma is 1.9 times less risky than Ihlas Yayin. It trades about 0.08 of its potential returns per unit of risk. Ihlas Yayin Holding is currently generating about 0.04 per unit of risk. If you would invest 975.00 in Turkiye Sinai Kalkinma on November 7, 2024 and sell it today you would earn a total of 408.00 from holding Turkiye Sinai Kalkinma or generate 41.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Sinai Kalkinma vs. Ihlas Yayin Holding
Performance |
| Timeline |
| Turkiye Sinai Kalkinma |
| Ihlas Yayin Holding |
Turkiye Sinai and Ihlas Yayin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Sinai and Ihlas Yayin
The main advantage of trading using opposite Turkiye Sinai and Ihlas Yayin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Sinai 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.| Turkiye Sinai vs. Yapi ve Kredi | Turkiye Sinai vs. Turkiye Is Bankasi | Turkiye Sinai vs. Akbank TAS | Turkiye Sinai vs. Turkiye Garanti 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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