Kocaer Celik Correlations

KCAER Stock

14.25 0.09 0.64%

The current 90-days correlation between Kocaer Celik Sanayi and Eregli Demir ve is 0.53 (i.e., Very weak diversification). The correlation of Kocaer Celik 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.

Kocaer Celik Correlation With Market

Modest diversification

The correlation between Kocaer Celik Sanayi and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kocaer Celik Sanayi and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kocaer Stock

0.61	BRYAT	Borusan Yatirim ve	Pair Corr
0.66	IZMDC	Izmir Demir Celik	Pair Corr
0.89	CEMTS	Cemtas Celik Makina	Pair Corr
0.69	YKSLN	Yukselen Celik As	Pair Corr
0.64	BRMEN	Birlik Mensucat Ticaret	Pair Corr
0.74	PAMEL	Pamel Yenilenebilir	Pair Corr
0.8	KSTUR	Kustur Kusadasi Turizm	Pair Corr
0.64	PLTUR	Platform Turizm Tasi	Pair Corr

Moving against Kocaer Stock

0.45

KRDMD

Kardemir Karabuk Demir

Pair Corr

Related Correlations Analysis

	EREGL	ISDMR	BRYAT	KRDMB	KRDMD	IZMDC	CEMTS
EREGL		0.74	-0.05	0.46	0.69	0.01	-0.05	EREGL
ISDMR	0.74		0.08	0.71	0.64	-0.1	-0.2	ISDMR
BRYAT	-0.05	0.08		-0.02	-0.32	0.56	0.58	BRYAT
KRDMB	0.46	0.71	-0.02		0.74	-0.46	-0.34	KRDMB
KRDMD	0.69	0.64	-0.32	0.74		-0.47	-0.58	KRDMD
IZMDC	0.01	-0.1	0.56	-0.46	-0.47		0.74	IZMDC
CEMTS	-0.05	-0.2	0.58	-0.34	-0.58	0.74		CEMTS
	EREGL	ISDMR	BRYAT	KRDMB	KRDMD	IZMDC	CEMTS

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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

ISDMR	+ 0.74	EREGL
KRDMD	+ 0.74	KRDMB
CEMTS	+ 0.74	IZMDC
KRDMB	+ 0.71	ISDMR
KRDMD	+ 0.69	EREGL
KRDMD	+ 0.64	ISDMR

High negative correlations

CEMTS	- 0.58	KRDMD
IZMDC	- 0.47	KRDMD
IZMDC	- 0.46	KRDMB
CEMTS	- 0.34	KRDMB
KRDMD	- 0.32	BRYAT
CEMTS	- 0.2	ISDMR

Risk-Adjusted Indicators

There is a big difference between Kocaer Stock performing well and Kocaer Celik 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 Kocaer Celik'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
EREGL	1.44	0.05	0.00	0.20	1.59	(1.63)	2.99	(2.78)	7.76
ISDMR	1.36	0.12	0.03	0.41	1.49	(1.42)	3.39	(2.32)	7.94
BRYAT	2.56	0.35	0.10	0.70	2.63	(2.83)	5.86	(4.06)	18.29
KRDMB	1.96	0.41	0.13	8.48	1.94	(2.16)	4.01	(3.60)	14.93
KRDMD	1.86	0.20	0.07	0.42	2.04	(2.06)	3.43	(3.30)	10.24
IZMDC	1.35	(0.09)	0.00	(0.13)	0.00	0.00	2.72	(3.55)	7.89
CEMTS	1.43	(0.27)	0.00	(0.60)	0.00	0.00	2.27	(3.89)	7.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kocaer Celik 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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