Oyak Cimento Correlations

OYAKC Stock

TRY 21.52 0.02 0.09%

The current 90-days correlation between Oyak Cimento Fabrikalari and Nuh Cimento Sanayi is 0.41 (i.e., Very weak diversification). The correlation of Oyak Cimento 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.

Oyak Cimento Correlation With Market

Significant diversification

The correlation between Oyak Cimento Fabrikalari and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oyak Cimento Fabrikalari and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Oyak Stock

0.8	NUHCM	Nuh Cimento Sanayi	Pair Corr
0.73	KONYA	Konya Cimento Sanayi	Pair Corr
0.9	CIMSA	Cimsa Cimento Sanayi	Pair Corr
0.91	AKCNS	Akcansa Cimento Sanayi	Pair Corr
0.93	BUCIM	Bursa Cimento Fabrikasi	Pair Corr
0.9	CMENT	Cimentas Izmir Cimento	Pair Corr
0.83	EGPRO	Ege Profil Ticaret	Pair Corr
0.81	IHGZT	Ihlas Gazetecilik	Pair Corr
0.79	BEYAZ	Beyaz Filo Oto	Pair Corr
0.85	DGGYO	Dogus Gayrimenkul Yatirim	Pair Corr
0.77	CUSAN	Cuhadaroglu Metal Sanayi	Pair Corr
0.87	TRCAS	Turcas Petrol AS	Pair Corr
0.74	LKMNH	Lokman Hekim Engurusag	Pair Corr
0.93	EGEPO	Nasmed Ozel Saglik	Pair Corr
0.93	KCAER	Kocaer Celik Sanayi Split	Pair Corr
0.85	RYSAS	Reysas Tasimacilik	Pair Corr
0.93	PLTUR	Platform Turizm Tasi	Pair Corr
0.77	GARAN	Turkiye Garanti Bankasi	Pair Corr
0.69	ALFAS	Alfas Solar Enerji	Pair Corr
0.9	PENGD	Penguen Gida Sanayi	Pair Corr
0.91	ADESE	Adese Gayrimenkul Yatirim	Pair Corr
0.75	ASELS	Aselsan Elektronik Sanayi	Pair Corr
0.73	KCHOL	Koc Holding AS	Pair Corr
0.84	BMSTL	Bms Birlesik Metal Split	Pair Corr
0.87	MACKO	Mackolik Internet	Pair Corr
0.84	GLBMD	Global Menkul Degerler	Pair Corr
0.66	ENKAI	ENKA Insaat ve	Pair Corr
0.72	KENT	Kent Gida Maddeleri	Pair Corr
0.89	EKGYO	Emlak Konut Gayrimenkul	Pair Corr

Related Correlations Analysis

	OYAKC	NUHCM	KONYA	CIMSA	AKCNS	BUCIM	YBTAS	BTCIM	CMENT
OYAKC		0.8	0.73	0.9	0.91	0.93	-0.08	-0.3	0.9	OYAKC
NUHCM	0.8		0.81	0.89	0.84	0.78	-0.49	-0.46	0.77	NUHCM
KONYA	0.73	0.81		0.8	0.81	0.72	-0.27	-0.24	0.73	KONYA
CIMSA	0.9	0.89	0.8		0.89	0.87	-0.28	-0.42	0.85	CIMSA
AKCNS	0.91	0.84	0.81	0.89		0.89	-0.16	-0.35	0.92	AKCNS
BUCIM	0.93	0.78	0.72	0.87	0.89		0.05	-0.1	0.89	BUCIM
YBTAS	-0.08	-0.49	-0.27	-0.28	-0.16	0.05		0.77	-0.03	YBTAS
BTCIM	-0.3	-0.46	-0.24	-0.42	-0.35	-0.1	0.77		-0.28	BTCIM
CMENT	0.9	0.77	0.73	0.85	0.92	0.89	-0.03	-0.28		CMENT
	OYAKC	NUHCM	KONYA	CIMSA	AKCNS	BUCIM	YBTAS	BTCIM	CMENT

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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

BUCIM	+ 0.93	OYAKC
CMENT	+ 0.92	AKCNS
AKCNS	+ 0.91	OYAKC
CIMSA	+ 0.9	OYAKC
CMENT	+ 0.9	OYAKC
CIMSA	+ 0.89	NUHCM

High negative correlations

YBTAS	- 0.49	NUHCM
BTCIM	- 0.46	NUHCM
BTCIM	- 0.42	CIMSA
BTCIM	- 0.35	AKCNS
BTCIM	- 0.3	OYAKC
CMENT	- 0.28	BTCIM

Risk-Adjusted Indicators

There is a big difference between Oyak Stock performing well and Oyak Cimento 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 Oyak Cimento'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
OYAKC	1.87	0.42	0.19	4.03	1.73	(2.29)	4.37	(2.75)	12.22
NUHCM	2.08	0.19	0.07	(0.75)	2.17	(2.41)	4.60	(3.23)	16.98
KONYA	1.98	0.04	0.01	0.10	2.54	(1.93)	4.39	(4.80)	14.94
CIMSA	2.01	0.34	0.14	2.69	2.01	(2.23)	5.23	(3.46)	15.01
AKCNS	1.98	0.15	0.06	0.71	1.86	(2.67)	6.11	(3.12)	14.70
BUCIM	1.69	0.12	0.05	0.49	1.86	(1.93)	4.07	(2.97)	14.89
YBTAS	2.02	(0.18)	0.00	(0.76)	0.00	0.00	5.23	(4.66)	12.68
BTCIM	2.03	(0.53)	0.00	0.66	0.00	0.00	4.63	(5.38)	15.10
CMENT	2.64	0.17	0.05	0.80	3.02	(2.90)	7.11	(4.76)	17.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oyak Cimento 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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