Correlation Between BIST Electricity and Anatolia Tani
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By analyzing existing cross correlation between BIST Electricity and Anatolia Tani ve, you can compare the effects of market volatilities on BIST Electricity and Anatolia Tani 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 Anatolia Tani. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Anatolia Tani.
Diversification Opportunities for BIST Electricity and Anatolia Tani
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BIST and Anatolia is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Anatolia Tani ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anatolia Tani ve 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 Anatolia Tani. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anatolia Tani ve has no effect on the direction of BIST Electricity i.e., BIST Electricity and Anatolia Tani go up and down completely randomly.
Pair Corralation between BIST Electricity and Anatolia Tani
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.85 times more return on investment than Anatolia Tani. However, BIST Electricity is 1.18 times less risky than Anatolia Tani. It trades about 0.23 of its potential returns per unit of risk. Anatolia Tani ve is currently generating about -0.3 per unit of risk. If you would invest 46,137 in BIST Electricity on September 4, 2024 and sell it today you would earn a total of 3,105 from holding BIST Electricity or generate 6.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Anatolia Tani ve
Performance |
| Timeline |
BIST Electricity and Anatolia Tani Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Anatolia Tani ve
Pair trading matchups for Anatolia Tani
Pair Trading with BIST Electricity and Anatolia Tani
The main advantage of trading using opposite BIST Electricity and Anatolia Tani positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Anatolia Tani 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 Anatolia Tani will offset losses from the drop in Anatolia Tani's long position.| BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Borlease Otomotiv AS | BIST Electricity vs. Turkiye Kalkinma Bankasi |
| Anatolia Tani vs. Seyitler Kimya Sanayi | Anatolia Tani vs. Silverline Endustri ve | Anatolia Tani vs. Frigo Pak Gida Maddeleri | Anatolia Tani vs. Elite Naturel Organik |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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