I would also try running a few monte carlo sims to model exchange rate risk on strat. Try dual sim (mean reverting model Ornstein-Uhlenbeck (USD/TRY) works and maybe simple Geometric Brownian Motion for TKC and TUR. Can then make assumptions on historical volatility or can model if u have data. Something like for TKC at 25%, TUR at 20%, and USD/TRY at 30%. Correlate stock and currency movements, simulate thousands of scenarios, and then apply your strat. Also drift constants can just be av annual returns. Additional - GARCH for more dynamic vol instead of historical avg, add more macro info (interest rate changes, inflation... then use copula method to find dependencies.
I would also try running a few monte carlo sims to model exchange rate risk on strat. Try dual sim (mean reverting model Ornstein-Uhlenbeck (USD/TRY) works and maybe simple Geometric Brownian Motion for TKC and TUR. Can then make assumptions on historical volatility or can model if u have data. Something like for TKC at 25%, TUR at 20%, and USD/TRY at 30%. Correlate stock and currency movements, simulate thousands of scenarios, and then apply your strat. Also drift constants can just be av annual returns. Additional - GARCH for more dynamic vol instead of historical avg, add more macro info (interest rate changes, inflation... then use copula method to find dependencies.