Correlation Between Turkiye Is and Seyitler Kimya

Can any of the company-specific risk be diversified away by investing in both Turkiye Is and Seyitler Kimya 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 Seyitler Kimya 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 Seyitler Kimya Sanayi, you can compare the effects of market volatilities on Turkiye Is and Seyitler Kimya 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 Seyitler Kimya. Check out your portfolio center. Please also check ongoing floating volatility patterns of Turkiye Is and Seyitler Kimya.

Diversification Opportunities for Turkiye Is and Seyitler Kimya

0.0

Correlation Coefficient

Turkiye Is  Seyitler Kimya

Pay attention - limited upside

The 3 months correlation between Turkiye and Seyitler is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Turkiye Is Bankasi and Seyitler Kimya Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seyitler Kimya Sanayi 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 Seyitler Kimya. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seyitler Kimya Sanayi has no effect on the direction of Turkiye Is i.e., Turkiye Is and Seyitler Kimya go up and down completely randomly.

Pair Corralation between Turkiye Is and Seyitler Kimya

If you would invest  1,117  in Turkiye Is Bankasi on February 26, 2024 and sell it today you would earn a total of  427.00  from holding Turkiye Is Bankasi or generate 38.23% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Turkiye Is Bankasi  vs.  Seyitler Kimya Sanayi

Turkiye Is Bankasi

Risk-Adjusted Performance

15 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Turkiye Is Bankasi are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent basic indicators, Turkiye Is demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Seyitler Kimya Sanayi

Risk-Adjusted Performance

0 of 100

Good

Over the last 90 days Seyitler Kimya Sanayi has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong primary indicators, Seyitler Kimya is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Turkiye Is and Seyitler Kimya

The main advantage of trading using opposite Turkiye Is and Seyitler Kimya positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Turkiye Is position performs unexpectedly, Seyitler Kimya 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 Seyitler Kimya will offset losses from the drop in Seyitler Kimya's long position.

The idea behind Turkiye Is Bankasi and Seyitler Kimya Sanayi pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.