Correlation Between Turkiye Is and Haci Omer
Can any of the company-specific risk be diversified away by investing in both Turkiye Is and Haci Omer 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 Is and Haci Omer into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Turkiye Is Bankasi and Haci Omer Sabanci, you can compare the effects of market volatilities on Turkiye Is and Haci Omer 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 Is with a short position of Haci Omer. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Is and Haci Omer.
Diversification Opportunities for Turkiye Is and Haci Omer
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Turkiye and Haci is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Is Bankasi and Haci Omer Sabanci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haci Omer Sabanci and Turkiye Is 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 Is Bankasi are associated (or correlated) with Haci Omer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haci Omer Sabanci has no effect on the direction of Turkiye Is i.e., Turkiye Is and Haci Omer go up and down completely randomly.
Pair Corralation between Turkiye Is and Haci Omer
Assuming the 90 days trading horizon Turkiye Is Bankasi is not expected to generate positive returns. However, Turkiye Is Bankasi is 12193.0 times less risky than Haci Omer. It waists most of its returns potential to compensate for thr risk taken. Haci Omer is generating about 0.28 per unit of risk. If you would invest 7,562 in Haci Omer Sabanci on February 13, 2024 and sell it today you would earn a total of 2,108 from holding Haci Omer Sabanci or generate 27.88% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 50.0% |
Values | Daily Returns |
Turkiye Is Bankasi vs. Haci Omer Sabanci
Performance |
Timeline |
Turkiye Is Bankasi |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
Haci Omer Sabanci |
Turkiye Is and Haci Omer Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Turkiye Is and Haci Omer
The main advantage of trading using opposite Turkiye Is and Haci Omer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Is position performs unexpectedly, Haci Omer 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 Haci Omer will offset losses from the drop in Haci Omer's long position.Turkiye Is vs. Politeknik Metal Sanayi | Turkiye Is vs. Galatasaray Sportif Sinai | Turkiye Is vs. Borlease Otomotiv AS | Turkiye Is vs. Cuhadaroglu Metal Sanayi |
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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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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