Correlation Between Demisas Dokum and BIST Electricity
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By analyzing existing cross correlation between Demisas Dokum Emaye and BIST Electricity, you can compare the effects of market volatilities on Demisas Dokum 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 Demisas Dokum with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Demisas Dokum and BIST Electricity.
Diversification Opportunities for Demisas Dokum and BIST Electricity
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Demisas and BIST is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Demisas Dokum Emaye and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and Demisas Dokum 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 Demisas Dokum Emaye 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 Demisas Dokum i.e., Demisas Dokum and BIST Electricity go up and down completely randomly.
Pair Corralation between Demisas Dokum and BIST Electricity
Assuming the 90 days trading horizon Demisas Dokum Emaye is expected to under-perform the BIST Electricity. In addition to that, Demisas Dokum is 4.04 times more volatile than BIST Electricity. It trades about -0.01 of its total potential returns per unit of risk. BIST Electricity is currently generating about 0.14 per unit of volatility. If you would invest 47,057 in BIST Electricity on September 1, 2024 and sell it today you would earn a total of 2,032 from holding BIST Electricity or generate 4.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Demisas Dokum Emaye vs. BIST Electricity
Performance |
| Timeline |
Demisas Dokum and BIST Electricity Volatility Contrast
Predicted Return Density |
| Returns |
Demisas Dokum Emaye
Pair trading matchups for Demisas Dokum
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with Demisas Dokum and BIST Electricity
The main advantage of trading using opposite Demisas Dokum and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Demisas Dokum 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.| Demisas Dokum vs. Galatasaray Sportif Sinai | Demisas Dokum vs. Akcansa Cimento Sanayi | Demisas Dokum vs. MEGA METAL | Demisas Dokum vs. Gentas Genel Metal |
| BIST Electricity vs. MEGA METAL | BIST Electricity vs. Sodas Sodyum Sanayi | BIST Electricity vs. Silverline Endustri ve | 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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