Upon the Usage of Contrarian and Momentum Strategies as a Hybrid in the
ISE
Journal Name:
- Ordu Üniversitesi Sosyal Bilimler Araştırmaları Dergisi
Keywords (Original Language):
| Author Name | University of Author | Faculty of Author |
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Abstract (2. Language):
The study aimed to determine whether the usage of contrarian and momentum strategies as a hybrid in the ISE porude better reversal than usage of these alone. Additionally, the questions such as can contrarian and momentum strategies produce important returns in different ranking and holding periods? And can the trading volume be used in predicting the reversals of various momentum portfolios in Turkish stock market? are tried to be investigated shortly. The basic assumptions of the study are respectively as follows: First of all, the statistical datas of the buy and sells are in the ISE reflect opinions and behaviours of the investors in the market. Second, although the global trend has a tendency to approach the financial markets, the market conditions in Turkey generates dissimilarities between the ISE and other international markets. The findings show that for some portfolios in different ranking and holding periods of hybrid strategy can produce abnormal return.
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Abstract (Original Language):
fali§mada, zitlik ve momentum stratejilerinin hibrid bir §ekilde IMKB'de kullammlarimn bu stratejilerin tek ba§larina kullanimlarindan daha yuksek bir getiri iiretip uretemeyeceginin ortaya gikarilmasi amaglanmi§tir. Buna ek olarak; zitlik ve momentum stratejileri, farkli siralama ve elde tutma periyotlarinda onemli getiriler uretebilirler mi? ve i§lem hacmi Turkiye hisse senedi piyasasindaki ge§itli momentum portfoylerinin getirilerini tahmin etmede i§e yaramakta midir? sorularinin da kisaca irdelenmesine 5ali§ilmi§tir. Qali§manin temel varsayimlari sirasiyla §unlardir: Ilk olarak, IMKB'deki alim satimlara iligkin istatistiki veriler piyasadaki yatirimcilarin goru§lerini ve davrani§larini yansitmaktadirlar. ikinci olarak, global trendin finansal piyasalari birbirlerine yaklastirma egilimi olsa da Turkiye'deki piyasa kosullari IMKB ile diger uluslararasi piyasalar arasindaki farkliliklari meydana getirmektedirler. Bulgular, hibrid bir stratejinin farkli siralama ve elde tutma periyotlarinda bazi portfoyler igin normalustu bir getiri uretebilecegini gostermektedir.
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