Correlation Between ICBC Turkey and BIST Electricity
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By analyzing existing cross correlation between ICBC Turkey Bank and BIST Electricity, you can compare the effects of market volatilities on ICBC Turkey 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 ICBC Turkey with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of ICBC Turkey and BIST Electricity.
Diversification Opportunities for ICBC Turkey and BIST Electricity
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ICBC and BIST is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding ICBC Turkey Bank and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and ICBC Turkey 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 ICBC Turkey Bank 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 ICBC Turkey i.e., ICBC Turkey and BIST Electricity go up and down completely randomly.
Pair Corralation between ICBC Turkey and BIST Electricity
Assuming the 90 days trading horizon ICBC Turkey Bank is expected to generate 1.37 times more return on investment than BIST Electricity. However, ICBC Turkey is 1.37 times more volatile than BIST Electricity. It trades about 0.2 of its potential returns per unit of risk. BIST Electricity is currently generating about 0.11 per unit of risk. If you would invest 1,302 in ICBC Turkey Bank on August 31, 2024 and sell it today you would earn a total of 107.00 from holding ICBC Turkey Bank or generate 8.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ICBC Turkey Bank vs. BIST Electricity
Performance |
| Timeline |
ICBC Turkey and BIST Electricity Volatility Contrast
Predicted Return Density |
| Returns |
ICBC Turkey Bank
Pair trading matchups for ICBC Turkey
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with ICBC Turkey and BIST Electricity
The main advantage of trading using opposite ICBC Turkey and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ICBC Turkey 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.| ICBC Turkey vs. Turkiye Garanti Bankasi | ICBC Turkey vs. Yapi ve Kredi | ICBC Turkey vs. Turkiye Is Bankasi | ICBC Turkey vs. Koc Holding AS |
| BIST Electricity vs. Datagate Bilgisayar Malzemeleri | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Akbank TAS | BIST Electricity vs. Bms Birlesik 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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