Burcelik Vana Correlations

BURVA Stock

TRY 105.20 0.80 0.77%

The current 90-days correlation between Burcelik Vana Sanayi and Sodas Sodyum Sanayi is 0.19 (i.e., Average diversification). The correlation of Burcelik Vana 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.

Burcelik Vana Correlation With Market

Good diversification

The correlation between Burcelik Vana Sanayi and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Burcelik Vana Sanayi and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Burcelik Stock

0.87	EGEEN	Ege Endustri ve	Pair Corr
0.88	BRYAT	Borusan Yatirim ve	Pair Corr
0.72	TUPRS	Turkiye Petrol Rafin	Pair Corr
0.84	KONYA	Konya Cimento Sanayi	Pair Corr
0.85	OTKAR	Otokar Otomotiv ve	Pair Corr
0.74	CCOLA	Coca Cola Icecek	Pair Corr

Moving against Burcelik Stock

0.68	THYAO	Turkish Airlines	Pair Corr
0.56	PGSUS	Pegasus Hava Tasimaciligi	Pair Corr

Related Correlations Analysis

	AKBNK	GSRAY	KOCMT	KLNMA	AKCNS	SODSN	SILVR
AKBNK		-0.42	-0.15	-0.48	-0.15	-0.43	-0.46	AKBNK
GSRAY	-0.42		0.36	0.65	0.0	0.74	0.86	GSRAY
KOCMT	-0.15	0.36		0.41	-0.62	0.4	0.51	KOCMT
KLNMA	-0.48	0.65	0.41		-0.1	0.62	0.7	KLNMA
AKCNS	-0.15	0.0	-0.62	-0.1		-0.24	-0.17	AKCNS
SODSN	-0.43	0.74	0.4	0.62	-0.24		0.86	SODSN
SILVR	-0.46	0.86	0.51	0.7	-0.17	0.86		SILVR
	AKBNK	GSRAY	KOCMT	KLNMA	AKCNS	SODSN	SILVR

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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

SILVR	+ 0.86	GSRAY
SILVR	+ 0.86	SODSN
SODSN	+ 0.74	GSRAY
SILVR	+ 0.7	KLNMA
KLNMA	+ 0.65	GSRAY
SODSN	+ 0.62	KLNMA

High negative correlations

AKCNS	- 0.62	KOCMT
KLNMA	- 0.48	AKBNK
SILVR	- 0.46	AKBNK
SODSN	- 0.43	AKBNK
GSRAY	- 0.42	AKBNK
SODSN	- 0.24	AKCNS

Risk-Adjusted Indicators

There is a big difference between Burcelik Stock performing well and Burcelik Vana 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 Burcelik Vana'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
AKBNK	1.58	0.27	0.20	0.61	1.43	(1.94)	2.98	(2.48)	11.04
GSRAY	1.50	(0.26)	0.00	(1.11)	0.00	0.00	3.05	(3.21)	8.61
KOCMT	1.75	(0.24)	0.00	0.31	0.00	0.00	2.89	(9.78)	14.68
KLNMA	1.35	(0.12)	0.00	(0.47)	0.00	0.00	2.69	(2.69)	10.57
AKCNS	1.84	0.08	0.04	0.09	2.72	(1.74)	3.43	(3.15)	19.96
SODSN	1.50	(0.16)	0.00	(1.00)	0.00	0.00	2.95	(3.03)	15.11
SILVR	1.30	(0.22)	0.00	(0.73)	0.00	0.00	2.72	(2.48)	8.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Burcelik Vana 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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