Correlation Between Turkiye Sinai and Is Finansal
Can any of the company-specific risk be diversified away by investing in both Turkiye Sinai and Is Finansal 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 Is Finansal 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 Is Finansal Kiralama, you can compare the effects of market volatilities on Turkiye Sinai and Is Finansal 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 Is Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Sinai and Is Finansal.
Diversification Opportunities for Turkiye Sinai and Is Finansal
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Turkiye and ISFIN is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Sinai Kalkinma and Is Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Is Finansal Kiralama 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 Is Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Is Finansal Kiralama has no effect on the direction of Turkiye Sinai i.e., Turkiye Sinai and Is Finansal go up and down completely randomly.
Pair Corralation between Turkiye Sinai and Is Finansal
Assuming the 90 days trading horizon Turkiye Sinai Kalkinma is expected to generate 0.95 times more return on investment than Is Finansal. However, Turkiye Sinai Kalkinma is 1.05 times less risky than Is Finansal. It trades about 0.07 of its potential returns per unit of risk. Is Finansal Kiralama is currently generating about 0.01 per unit of risk. If you would invest 992.00 in Turkiye Sinai Kalkinma on September 3, 2024 and sell it today you would earn a total of 276.00 from holding Turkiye Sinai Kalkinma or generate 27.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Turkiye Sinai Kalkinma vs. Is Finansal Kiralama
Performance |
| Timeline |
| Turkiye Sinai Kalkinma |
| Is Finansal Kiralama |
Turkiye Sinai and Is Finansal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Turkiye Sinai and Is Finansal
The main advantage of trading using opposite Turkiye Sinai and Is Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Sinai position performs unexpectedly, Is Finansal 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 Is Finansal will offset losses from the drop in Is Finansal'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 |
| Is Finansal vs. Desa Deri Sanayi | Is Finansal vs. Tumosan Motor ve | Is Finansal vs. Ihlas Gazetecilik AS | Is Finansal vs. Kuyas Yatirim 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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