Correlation Between Haci Omer and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both Haci Omer and Turkiye Is 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 Haci Omer and Turkiye Is into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Haci Omer Sabanci and Turkiye Is Bankasi, you can compare the effects of market volatilities on Haci Omer and Turkiye Is 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 Haci Omer with a short position of Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haci Omer and Turkiye Is.
Diversification Opportunities for Haci Omer and Turkiye Is
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Haci and Turkiye is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Haci Omer Sabanci and Turkiye Is Bankasi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkiye Is Bankasi and Haci Omer 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 Haci Omer Sabanci are associated (or correlated) with Turkiye Is. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkiye Is Bankasi has no effect on the direction of Haci Omer i.e., Haci Omer and Turkiye Is go up and down completely randomly.
Pair Corralation between Haci Omer and Turkiye Is
Assuming the 90 days trading horizon Haci Omer is expected to generate 1.48 times less return on investment than Turkiye Is. In addition to that, Haci Omer is 1.02 times more volatile than Turkiye Is Bankasi. It trades about 0.06 of its total potential returns per unit of risk. Turkiye Is Bankasi is currently generating about 0.08 per unit of volatility. If you would invest 1,049 in Turkiye Is Bankasi on December 4, 2024 and sell it today you would earn a total of 538.00 from holding Turkiye Is Bankasi or generate 51.29% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Haci Omer Sabanci vs. Turkiye Is Bankasi
Performance |
Timeline |
Haci Omer Sabanci |
Turkiye Is Bankasi |
Haci Omer and Turkiye Is Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Haci Omer and Turkiye Is
The main advantage of trading using opposite Haci Omer and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haci Omer position performs unexpectedly, Turkiye Is 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 Turkiye Is will offset losses from the drop in Turkiye Is' long position.Haci Omer vs. Koc Holding AS | Haci Omer vs. Turkiye Sise ve | Haci Omer vs. Akbank TAS | Haci Omer vs. Turkiye Petrol Rafinerileri |
Turkiye Is vs. Turkiye Garanti Bankasi | Turkiye Is vs. Akbank TAS | Turkiye Is vs. Yapi ve Kredi | Turkiye Is vs. Turkiye Sise ve |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
Fundamental Analysis View fundamental data based on most recent published financial statements | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |