Correlation Between AK Sigorta and Turkiye Is
Can any of the company-specific risk be diversified away by investing in both AK Sigorta 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 AK Sigorta and Turkiye Is into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AK Sigorta AS and Turkiye Is Bankasi, you can compare the effects of market volatilities on AK Sigorta 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 AK Sigorta with a short position of Turkiye Is. Check out your portfolio center. Please also check ongoing floating volatility patterns of AK Sigorta and Turkiye Is.
Diversification Opportunities for AK Sigorta and Turkiye Is
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AKGRT and Turkiye is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding AK Sigorta AS 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 AK Sigorta 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 AK Sigorta AS 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 AK Sigorta i.e., AK Sigorta and Turkiye Is go up and down completely randomly.
Pair Corralation between AK Sigorta and Turkiye Is
Assuming the 90 days trading horizon AK Sigorta AS is expected to generate 2.16 times more return on investment than Turkiye Is. However, AK Sigorta is 2.16 times more volatile than Turkiye Is Bankasi. It trades about 0.3 of its potential returns per unit of risk. Turkiye Is Bankasi is currently generating about -0.01 per unit of risk. If you would invest 575.00 in AK Sigorta AS on September 22, 2024 and sell it today you would earn a total of 120.00 from holding AK Sigorta AS or generate 20.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
AK Sigorta AS vs. Turkiye Is Bankasi
Performance |
Timeline |
AK Sigorta AS |
Turkiye Is Bankasi |
AK Sigorta and Turkiye Is Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AK Sigorta and Turkiye Is
The main advantage of trading using opposite AK Sigorta and Turkiye Is positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AK Sigorta 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.AK Sigorta vs. Pamel Yenilenebilir Elektrik | AK Sigorta vs. Bosch Fren Sistemleri | AK Sigorta vs. Marka Yatirim Holding | AK Sigorta vs. Dogus Gayrimenkul Yatirim |
Turkiye Is vs. Aksa Akrilik Kimya | Turkiye Is vs. Tofas Turk Otomobil | Turkiye Is vs. AK Sigorta AS | Turkiye Is vs. Is Yatirim Menkul |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
Fundamental Analysis View fundamental data based on most recent published financial statements | |
Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |