Evaluation the Performances of Portfolios Created with TOPSIS and Grey Relational Analysis Methods during COVID-19 Pandemic

In this study, portfolio diversification was tried to be made based on stock market performance ratios with TOPSIS and Grey Relational Analysis (GRA) methods using quarterly data of companies operating in Borsa Istanbul Banks (XBANK), Wholesale & Retail Trade (XTCRT) and Textile & Leather (XTEKS) between 2015-2019. In the next stage, the performances of the created portfolios during the pandemic period were tried to be determined by comparing various indicators. As result, it was seen that the portfolio formed by the companies with the lowest performance in terms of stock market performance ratios reflects the highest average percentage change in positive sense. It has been determined that the return of the created portfolios is higher than the yield of BIST100 (XU100), BIST Banks XBANK, Gram Gold and US Dollar alternatives. This situation can be interpreted as TOPSIS, and GRA methods can be used as an alternative method in creating profitable portfolios