Correlation Between BIST Electricity and Adel Kalemcilik
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By analyzing existing cross correlation between BIST Electricity and Adel Kalemcilik Ticaret, you can compare the effects of market volatilities on BIST Electricity and Adel Kalemcilik 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 BIST Electricity with a short position of Adel Kalemcilik. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Adel Kalemcilik.
Diversification Opportunities for BIST Electricity and Adel Kalemcilik
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BIST and Adel is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Adel Kalemcilik Ticaret in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Adel Kalemcilik Ticaret and BIST Electricity 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 BIST Electricity are associated (or correlated) with Adel Kalemcilik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Adel Kalemcilik Ticaret has no effect on the direction of BIST Electricity i.e., BIST Electricity and Adel Kalemcilik go up and down completely randomly.
Pair Corralation between BIST Electricity and Adel Kalemcilik
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Adel Kalemcilik. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 2.29 times less risky than Adel Kalemcilik. The index trades about 0.0 of its potential returns per unit of risk. The Adel Kalemcilik Ticaret is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 3,935 in Adel Kalemcilik Ticaret on September 3, 2024 and sell it today you would lose (447.00) from holding Adel Kalemcilik Ticaret or give up 11.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Adel Kalemcilik Ticaret
Performance |
| Timeline |
BIST Electricity and Adel Kalemcilik Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Adel Kalemcilik Ticaret
Pair trading matchups for Adel Kalemcilik
Pair Trading with BIST Electricity and Adel Kalemcilik
The main advantage of trading using opposite BIST Electricity and Adel Kalemcilik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Adel Kalemcilik 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 Adel Kalemcilik will offset losses from the drop in Adel Kalemcilik's long position.| BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. Silverline Endustri ve | BIST Electricity vs. Sekerbank TAS | BIST Electricity vs. Bms Birlesik Metal |
| Adel Kalemcilik vs. Politeknik Metal Sanayi | Adel Kalemcilik vs. Gentas Genel Metal | Adel Kalemcilik vs. Bms Birlesik Metal | Adel Kalemcilik vs. Mackolik Internet Hizmetleri |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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