Correlation Between Sekerbank TAS and BIST Electricity
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By analyzing existing cross correlation between Sekerbank TAS and BIST Electricity, you can compare the effects of market volatilities on Sekerbank TAS 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 Sekerbank TAS with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sekerbank TAS and BIST Electricity.
Diversification Opportunities for Sekerbank TAS and BIST Electricity
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sekerbank and BIST is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Sekerbank TAS and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and Sekerbank TAS 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 Sekerbank TAS 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 Sekerbank TAS i.e., Sekerbank TAS and BIST Electricity go up and down completely randomly.
Pair Corralation between Sekerbank TAS and BIST Electricity
Assuming the 90 days trading horizon Sekerbank TAS is expected to generate 1.6 times more return on investment than BIST Electricity. However, Sekerbank TAS is 1.6 times more volatile than BIST Electricity. It trades about 0.06 of its potential returns per unit of risk. BIST Electricity is currently generating about 0.01 per unit of risk. If you would invest 213.00 in Sekerbank TAS on September 3, 2024 and sell it today you would earn a total of 252.00 from holding Sekerbank TAS or generate 118.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.19% |
| Values | Daily Returns |
Sekerbank TAS vs. BIST Electricity
Performance |
| Timeline |
Sekerbank TAS and BIST Electricity Volatility Contrast
Predicted Return Density |
| Returns |
Sekerbank TAS
Pair trading matchups for Sekerbank TAS
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with Sekerbank TAS and BIST Electricity
The main advantage of trading using opposite Sekerbank TAS and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sekerbank TAS 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.| Sekerbank TAS vs. Desa Deri Sanayi | Sekerbank TAS vs. Tumosan Motor ve | Sekerbank TAS vs. Ihlas Gazetecilik AS | Sekerbank TAS vs. Kuyas Yatirim AS |
| BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. Silverline Endustri ve | BIST Electricity vs. Sekerbank 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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