TY  - JOUR
TT  - Portfolio Diversification: An Analysis on Sectoral Index in ISE
AU  - Kapusuzoğlu, Ayhan
AU  - İbicioğlu, Mustafa
PY  - 2013
DA  - April
JF  - Muhasebe ve Finansman Dergisi
PB  - Muhasebe ve Finansman Öğretim Üyeleri Bilim ve Araştırma Derneği
WT  - DergiPark
SN  - 2146-3042
SP  - 119
EP  - 138
IS  - 58
KW  - Portföy çeşitlemesi
KW  - Getiri
KW  - Çok Boyutlu Ölçekleme
KW  - İMKB
N2  - The purpose of this study is to analyse that if the investors investing in İstanbul Stock Exchange (ISE) market want to create a portfolio in accordance with modern portfolio theory, then in which sectors they should create a portfolio consisting of stocks. The analyses were carried out by using daily frequency data for the period of 2005-2012 and by multi dimensional scaling method. In the study, the relationships between the sectors (similarity-disparity) were analysed for the range of period under review and for each year in the range of period under review separately and so, as a result of portfolio diversification it was indicated that in which two sectors in case of investment at the same time, the income levels of the investments would be the same, as well as the risk levels could be reduced. As a result of the analyses, in spite of different sector pairs were determined in terms of distances between the sectors in each period; the relationships between communication and informatics (XILTM-XBLSM), textile-leather and communication (XTEKS-XILTM) and food-drink and communication (XGIDA-XILTM) sectors come to the forefront.
UR  - https://dergipark.org.tr/en/pub/mufad/article/396416
L1  - https://dergipark.org.tr/en/download/article-file/427452
ER  -