Correlation Between Trabzonspor Sportif and BIST Electricity
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By analyzing existing cross correlation between Trabzonspor Sportif Yatirim and BIST Electricity, you can compare the effects of market volatilities on Trabzonspor Sportif 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 Trabzonspor Sportif with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trabzonspor Sportif and BIST Electricity.
Diversification Opportunities for Trabzonspor Sportif and BIST Electricity
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Trabzonspor and BIST is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Trabzonspor Sportif Yatirim and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and Trabzonspor Sportif 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 Trabzonspor Sportif Yatirim 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 Trabzonspor Sportif i.e., Trabzonspor Sportif and BIST Electricity go up and down completely randomly.
Pair Corralation between Trabzonspor Sportif and BIST Electricity
Assuming the 90 days trading horizon Trabzonspor Sportif is expected to generate 12.9 times less return on investment than BIST Electricity. In addition to that, Trabzonspor Sportif is 2.1 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 0.28 per unit of volatility. If you would invest 47,789 in BIST Electricity on September 13, 2024 and sell it today you would earn a total of 3,309 from holding BIST Electricity or generate 6.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trabzonspor Sportif Yatirim vs. BIST Electricity
Performance |
| Timeline |
Trabzonspor Sportif and BIST Electricity Volatility Contrast
Predicted Return Density |
| Returns |
Trabzonspor Sportif Yatirim
Pair trading matchups for Trabzonspor Sportif
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with Trabzonspor Sportif and BIST Electricity
The main advantage of trading using opposite Trabzonspor Sportif and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trabzonspor Sportif 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.| Trabzonspor Sportif vs. Turkiye Kalkinma Bankasi | Trabzonspor Sportif vs. Qnb Finansbank AS | Trabzonspor Sportif vs. ICBC Turkey Bank | Trabzonspor Sportif vs. Koza Anadolu Metal |
| BIST Electricity vs. Turkiye Kalkinma Bankasi | BIST Electricity vs. MEGA METAL | BIST Electricity vs. Galatasaray Sportif Sinai | BIST Electricity vs. Akbank TAS |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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