Correlation Between Yapi Ve and Sekerbank TAS
Can any of the company-specific risk be diversified away by investing in both Yapi Ve and Sekerbank TAS 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 Yapi Ve and Sekerbank TAS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Yapi ve Kredi and Sekerbank TAS, you can compare the effects of market volatilities on Yapi Ve and Sekerbank TAS 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 Yapi Ve with a short position of Sekerbank TAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yapi Ve and Sekerbank TAS.
Diversification Opportunities for Yapi Ve and Sekerbank TAS
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Yapi and Sekerbank is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Yapi ve Kredi and Sekerbank TAS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sekerbank TAS and Yapi Ve 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 Yapi ve Kredi are associated (or correlated) with Sekerbank TAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sekerbank TAS has no effect on the direction of Yapi Ve i.e., Yapi Ve and Sekerbank TAS go up and down completely randomly.
Pair Corralation between Yapi Ve and Sekerbank TAS
Assuming the 90 days trading horizon Yapi ve Kredi is expected to generate 0.59 times more return on investment than Sekerbank TAS. However, Yapi ve Kredi is 1.71 times less risky than Sekerbank TAS. It trades about 0.02 of its potential returns per unit of risk. Sekerbank TAS is currently generating about -0.21 per unit of risk. If you would invest 3,180 in Yapi ve Kredi on November 2, 2024 and sell it today you would earn a total of 18.00 from holding Yapi ve Kredi or generate 0.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yapi ve Kredi vs. Sekerbank TAS
Performance |
| Timeline |
| Yapi ve Kredi |
| Sekerbank TAS |
Yapi Ve and Sekerbank TAS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yapi Ve and Sekerbank TAS
The main advantage of trading using opposite Yapi Ve and Sekerbank TAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yapi Ve position performs unexpectedly, Sekerbank TAS 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 Sekerbank TAS will offset losses from the drop in Sekerbank TAS's long position.| Yapi Ve vs. Bms Birlesik Metal | Yapi Ve vs. Gentas Genel Metal | Yapi Ve vs. MEGA METAL | Yapi Ve vs. Politeknik Metal Sanayi |
| Sekerbank TAS vs. Turkiye Sinai Kalkinma | Sekerbank TAS vs. Yapi ve Kredi | Sekerbank TAS vs. Kardemir Karabuk Demir | Sekerbank TAS vs. Turkiye Is Bankasi |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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