Correlation Between BIST Electricity and Akis Gayrimenkul
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By analyzing existing cross correlation between BIST Electricity and Akis Gayrimenkul Yatirim, you can compare the effects of market volatilities on BIST Electricity and Akis Gayrimenkul 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 Akis Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Akis Gayrimenkul.
Diversification Opportunities for BIST Electricity and Akis Gayrimenkul
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BIST and Akis is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Akis Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akis Gayrimenkul Yatirim 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 Akis Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akis Gayrimenkul Yatirim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Akis Gayrimenkul go up and down completely randomly.
Pair Corralation between BIST Electricity and Akis Gayrimenkul
Assuming the 90 days trading horizon BIST Electricity is expected to generate 10.14 times less return on investment than Akis Gayrimenkul. But when comparing it to its historical volatility, BIST Electricity is 1.71 times less risky than Akis Gayrimenkul. It trades about 0.02 of its potential returns per unit of risk. Akis Gayrimenkul Yatirim is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 416.00 in Akis Gayrimenkul Yatirim on September 3, 2024 and sell it today you would earn a total of 292.00 from holding Akis Gayrimenkul Yatirim or generate 70.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Akis Gayrimenkul Yatirim
Performance |
| Timeline |
BIST Electricity and Akis Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Akis Gayrimenkul Yatirim
Pair trading matchups for Akis Gayrimenkul
Pair Trading with BIST Electricity and Akis Gayrimenkul
The main advantage of trading using opposite BIST Electricity and Akis Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Akis Gayrimenkul 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 Akis Gayrimenkul will offset losses from the drop in Akis Gayrimenkul'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 |
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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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