Correlation Between Koc Holding and BIST Electricity
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By analyzing existing cross correlation between Koc Holding AS and BIST Electricity, you can compare the effects of market volatilities on Koc Holding 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 Koc Holding with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koc Holding and BIST Electricity.
Diversification Opportunities for Koc Holding and BIST Electricity
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Koc and BIST is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Koc Holding AS and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and Koc Holding 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 Koc Holding 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 Koc Holding i.e., Koc Holding and BIST Electricity go up and down completely randomly.
Pair Corralation between Koc Holding and BIST Electricity
Assuming the 90 days trading horizon Koc Holding AS is expected to generate 1.19 times more return on investment than BIST Electricity. However, Koc Holding is 1.19 times more volatile than BIST Electricity. It trades about 0.1 of its potential returns per unit of risk. BIST Electricity is currently generating about 0.02 per unit of risk. If you would invest 6,395 in Koc Holding AS on August 29, 2024 and sell it today you would earn a total of 13,405 from holding Koc Holding AS or generate 209.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.19% |
| Values | Daily Returns |
Koc Holding AS vs. BIST Electricity
Performance |
| Timeline |
Koc Holding and BIST Electricity Volatility Contrast
Predicted Return Density |
| Returns |
Koc Holding AS
Pair trading matchups for Koc Holding
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with Koc Holding and BIST Electricity
The main advantage of trading using opposite Koc Holding and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koc Holding 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.| Koc Holding vs. Haci Omer Sabanci | Koc Holding vs. Turkiye Sise ve | Koc Holding vs. Turkiye Petrol Rafinerileri | Koc Holding vs. Turkiye Garanti Bankasi |
| BIST Electricity vs. Gentas Genel Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Turkiye Kalkinma Bankasi | BIST Electricity vs. Sodas Sodyum Sanayi |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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