Investment refers to generating returns by utilizing the remaining amount after expenses are deducted from income. It involves allocating resources today for future consumption. Savings can be invested in a range of assets. Investors' risk perception expected return levels, personality traits, and psychological and external factors play an active role in the investment process. Various forecasting techniques are available for investments in financial assets, including fundamental analysis, technical analysis, and computer-aided analysis methods. This study analyzes the relationships between the financial ratios of companies listed in the BIST Dividend 25 Index, which enables investors to earn dividends in addition to benefiting from price movements. The primary objective is to identify the causal relationships between the Net Profit Margin and Return on Equity ratios within this index. By examining the relationship between these two important financial ratios, the study provides valuable insights to investors and other stakeholders about the complexities of the investment process. A sample of 20 companies from the BIST Dividend 25 Index was selected, and quarterly data for the two financial ratios from 2018Q1 to 2024Q1 were collected. The study applies Correlation Analysis and the Dumitrescu & Hurlin (2012) Panel Causality Test. The analysis results indicate a bidirectional causal relationship between the two financial ratios, with a weak negative correlation between the variables. This suggests that the two financial ratios within the relevant index are interrelated. The study is original in its exploration of the relationship between these two financial ratios using current data from companies included in the dividend index. It aims to guide companies in the sector, market participants, and researchers.