Merko Gida Correlations
| MERKO Stock | TRY 16.38 1.02 6.64% |
The correlation of Merko Gida is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Merko Gida moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Merko Gida Sanayi moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Merko Gida Sanayi and NYA is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merko Gida Sanayi and NYA in the same portfolio, assuming nothing else is changed.
Merko |
The ability to find closely correlated positions to Merko Gida could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Merko Gida when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Merko Gida - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Merko Gida Sanayi to buy it.
Moving together with Merko Stock
| 0.81 | AKBNK | Akbank TAS | PairCorr |
| 0.86 | GARAN | Turkiye Garanti Bankasi | PairCorr |
| 0.81 | YKBNK | Yapi ve Kredi | PairCorr |
| 0.77 | TUPRS | Turkiye Petrol Rafin | PairCorr |
| 0.66 | SISE | Turkiye Sise ve | PairCorr |
| 0.69 | QNBFB | Qnb Finansbank AS | PairCorr |
| 0.83 | KCHOL | Koc Holding AS | PairCorr |
Related Correlations Analysis
| 0.14 | 0.53 | 0.61 | 0.69 | 0.52 | BORLS | ||
| 0.14 | 0.24 | 0.62 | -0.2 | 0.18 | KLNMA | ||
| 0.53 | 0.24 | 0.54 | 0.51 | 0.36 | BMSTL | ||
| 0.61 | 0.62 | 0.54 | 0.26 | 0.52 | ICBCT | ||
| 0.69 | -0.2 | 0.51 | 0.26 | 0.58 | MEGMT | ||
| 0.52 | 0.18 | 0.36 | 0.52 | 0.58 | CUSAN | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Merko Stock performing well and Merko Gida Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Merko Gida's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BORLS | 2.59 | (0.16) | 0.00 | 0.46 | 0.00 | 4.83 | 15.06 | |||
| KLNMA | 3.48 | 0.28 | 0.06 | 0.47 | 3.71 | 9.67 | 19.04 | |||
| BMSTL | 2.37 | 0.05 | (0.01) | (0.04) | 3.20 | 5.93 | 18.25 | |||
| ICBCT | 1.83 | 0.01 | 0.00 | 0.05 | 0.00 | 3.65 | 11.31 | |||
| MEGMT | 3.69 | (0.60) | 0.00 | (1.23) | 0.00 | 9.98 | 19.15 | |||
| CUSAN | 3.02 | 0.09 | 0.00 | (0.08) | 3.72 | 9.94 | 19.99 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Merko Gida without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Options Analysis Now
Options AnalysisAnalyze and evaluate options and option chains as a potential hedge for your portfolios |
| All Next | Launch Module |
Already Invested in Merko Gida Sanayi?
The danger of trading Merko Gida Sanayi is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Merko Gida is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Merko Gida. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Merko Gida Sanayi is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Merko Gida Sanayi. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Complementary Tools for Merko Stock analysis
When running Merko Gida's price analysis, check to measure Merko Gida's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Merko Gida is operating at the current time. Most of Merko Gida's value examination focuses on studying past and present price action to predict the probability of Merko Gida's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Merko Gida's price. Additionally, you may evaluate how the addition of Merko Gida to your portfolios can decrease your overall portfolio volatility.
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |