Correlation Between Creditwest Faktoring and BIST Electricity
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By analyzing existing cross correlation between Creditwest Faktoring AS and BIST Electricity, you can compare the effects of market volatilities on Creditwest Faktoring and BIST Electricity and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Creditwest Faktoring with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Creditwest Faktoring and BIST Electricity.
Diversification Opportunities for Creditwest Faktoring and BIST Electricity
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Creditwest and BIST is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Creditwest Faktoring AS and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and Creditwest Faktoring is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Creditwest Faktoring AS are associated (or correlated) with BIST Electricity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIST Electricity has no effect on the direction of Creditwest Faktoring i.e., Creditwest Faktoring and BIST Electricity go up and down completely randomly.
Pair Corralation between Creditwest Faktoring and BIST Electricity
Assuming the 90 days trading horizon Creditwest Faktoring AS is expected to generate 2.77 times more return on investment than BIST Electricity. However, Creditwest Faktoring is 2.77 times more volatile than BIST Electricity. It trades about 0.25 of its potential returns per unit of risk. BIST Electricity is currently generating about -0.4 per unit of risk. If you would invest 622.00 in Creditwest Faktoring AS on November 6, 2024 and sell it today you would earn a total of 106.00 from holding Creditwest Faktoring AS or generate 17.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Creditwest Faktoring AS vs. BIST Electricity
Performance |
| Timeline |
Creditwest Faktoring and BIST Electricity Volatility Contrast
Predicted Return Density |
| Returns |
Creditwest Faktoring AS
Pair trading matchups for Creditwest Faktoring
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with Creditwest Faktoring and BIST Electricity
The main advantage of trading using opposite Creditwest Faktoring and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Creditwest Faktoring position performs unexpectedly, BIST Electricity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in BIST Electricity will offset losses from the drop in BIST Electricity's long position.| Creditwest Faktoring vs. Bms Birlesik Metal | Creditwest Faktoring vs. Sodas Sodyum Sanayi | Creditwest Faktoring vs. KOC METALURJI | Creditwest Faktoring vs. Trabzonspor Sportif Yatirim |
| BIST Electricity vs. Turkiye Kalkinma Bankasi | BIST Electricity vs. Datagate Bilgisayar Malzemeleri | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Gentas Genel Metal |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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