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Hedging Risk in Stock Portfolios

Author

Listed:
  • Emin Avcı

    (Marmara University)

  • Murat Çinko

    (Marmara University)

  • Levent Çinko

    (Marmara University)

Abstract

In this study, in order to minimize the risks of stock portfolios, which are composed of Istanbul Stock Exchange (ISE) traded securities, Turkish Derivatives Exchange (TURKDEX) traded TURKDEX-ISE 30 index futures contracts were utilized. The findings of the study presented that the TURKDEX-ISE 30 index futures con- tracts could decrease the riskiness of stock portfolios at rates between 90% and 56%. There was no great divergence on the basis of risk reduction effectiveness between the daily and weekly hedging strategies.

Suggested Citation

  • Emin Avcı & Murat Çinko & Levent Çinko, 2009. "Hedging Risk in Stock Portfolios," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 24(85), pages 27-37, October.
    • Handle: RePEc:acc:malfin:v:24:y:2009:i:85:p:27-37
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