Hedef Holdings Correlations

HEDEF Stock

3.51 0.01 0.29%

The current 90-days correlation between Hedef Holdings AS and GSD Holding AS is 0.48 (i.e., Very weak diversification). The correlation of Hedef Holdings 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Hedef Holdings Correlation With Market

Modest diversification

The correlation between Hedef Holdings AS and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Holdings AS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hedef Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hedef Holdings 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 Hedef Holdings - 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 Hedef Holdings AS to buy it.

Moving together with Hedef Stock

0.79	GSDHO	GSD Holding AS	Pair Corr
0.93	UNLU	Unlu Yatirim Holding	Pair Corr
0.93	HDFGS	Hedef Girisim Sermayesi	Pair Corr
0.77	ISYAT	Is Yatirim Ortakligi	Pair Corr
0.78	TLMAN	Trabzon Liman Isletm	Pair Corr
0.95	YUNSA	Yunsa Yunlu Sanayi Split	Pair Corr
0.91	SOKM	Sok Marketler Ticaret	Pair Corr

Moving against Hedef Stock

0.89	HTTBT	Hitit Bilgisayar Hiz	Pair Corr
0.75	ENKAI	ENKA Insaat ve	Pair Corr
0.46	MIPAZ	Milpa Ticari ve	Pair Corr
0.38	VERUS	Verusa Holding AS	Pair Corr

Related Correlations Analysis

	HEDEF	GSDHO	UNLU	IMASM	BRISA	CUSAN	VAKBN	TGSAS	BRMEN	YYAPI
HEDEF		0.79	0.93	0.72	0.86	0.66	0.24	0.74	-0.18	0.8	HEDEF
GSDHO	0.79		0.87	0.84	0.92	0.92	0.68	0.66	-0.36	0.83	GSDHO
UNLU	0.93	0.87		0.77	0.92	0.8	0.36	0.78	-0.1	0.9	UNLU
IMASM	0.72	0.84	0.77		0.81	0.79	0.54	0.55	-0.28	0.68	IMASM
BRISA	0.86	0.92	0.92	0.81		0.88	0.55	0.74	-0.25	0.8	BRISA
CUSAN	0.66	0.92	0.8	0.79	0.88		0.72	0.57	-0.3	0.75	CUSAN
VAKBN	0.24	0.68	0.36	0.54	0.55	0.72		0.04	-0.64	0.36	VAKBN
TGSAS	0.74	0.66	0.78	0.55	0.74	0.57	0.04		0.14	0.63	TGSAS
BRMEN	-0.18	-0.36	-0.1	-0.28	-0.25	-0.3	-0.64	0.14		-0.08	BRMEN
YYAPI	0.8	0.83	0.9	0.68	0.8	0.75	0.36	0.63	-0.08		YYAPI
	HEDEF	GSDHO	UNLU	IMASM	BRISA	CUSAN	VAKBN	TGSAS	BRMEN	YYAPI

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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

UNLU	+ 0.93	HEDEF
BRISA	+ 0.92	GSDHO
CUSAN	+ 0.92	GSDHO
BRISA	+ 0.92	UNLU
YYAPI	+ 0.9	UNLU
CUSAN	+ 0.88	BRISA

High negative correlations

BRMEN	- 0.64	VAKBN
BRMEN	- 0.36	GSDHO
BRMEN	- 0.3	CUSAN
BRMEN	- 0.28	IMASM
BRMEN	- 0.25	BRISA
BRMEN	- 0.18	HEDEF

Risk-Adjusted Indicators

There is a big difference between Hedef Stock performing well and Hedef Holdings 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 Hedef Holdings' 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
HEDEF	1.76	(0.50)	0.00	(0.65)	0.00	0.00	3.08	(3.54)	17.18
GSDHO	1.51	(0.20)	0.00	(0.16)	0.00	0.00	2.79	(2.88)	12.56
UNLU	1.70	(0.35)	0.00	(0.28)	0.00	0.00	3.39	(3.54)	13.96
IMASM	1.72	(0.27)	0.00	(0.11)	0.00	0.00	3.14	(4.50)	14.60
BRISA	1.95	(0.32)	0.00	(0.25)	0.00	0.00	3.09	(4.18)	13.35
CUSAN	1.70	(0.12)	0.00	(0.10)	0.00	0.00	3.99	(3.13)	11.80
VAKBN	2.08	(0.09)	(0.04)	0.01	2.78	(2.09)	3.81	(4.71)	10.63
TGSAS	2.64	(0.13)	(0.03)	0.00	3.10	(2.83)	6.67	(5.41)	15.16
BRMEN	3.17	0.20	0.01	(0.31)	3.43	(3.76)	9.87	(5.38)	18.68
YYAPI	2.44	(0.48)	0.00	(0.25)	0.00	0.00	6.80	(4.53)	18.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hedef Holdings 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.

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