Correlation Between BIST Electricity and Aselsan Elektronik
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By analyzing existing cross correlation between BIST Electricity and Aselsan Elektronik Sanayi, you can compare the effects of market volatilities on BIST Electricity and Aselsan Elektronik 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 Aselsan Elektronik. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Aselsan Elektronik.
Diversification Opportunities for BIST Electricity and Aselsan Elektronik
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between BIST and Aselsan is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Aselsan Elektronik Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aselsan Elektronik Sanayi 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 Aselsan Elektronik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aselsan Elektronik Sanayi has no effect on the direction of BIST Electricity i.e., BIST Electricity and Aselsan Elektronik go up and down completely randomly.
Pair Corralation between BIST Electricity and Aselsan Elektronik
Assuming the 90 days trading horizon BIST Electricity is expected to generate 2.05 times less return on investment than Aselsan Elektronik. But when comparing it to its historical volatility, BIST Electricity is 1.22 times less risky than Aselsan Elektronik. It trades about 0.14 of its potential returns per unit of risk. Aselsan Elektronik Sanayi is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 6,375 in Aselsan Elektronik Sanayi on September 2, 2024 and sell it today you would earn a total of 570.00 from holding Aselsan Elektronik Sanayi or generate 8.94% 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. Aselsan Elektronik Sanayi
Performance |
| Timeline |
BIST Electricity and Aselsan Elektronik Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Aselsan Elektronik Sanayi
Pair trading matchups for Aselsan Elektronik
Pair Trading with BIST Electricity and Aselsan Elektronik
The main advantage of trading using opposite BIST Electricity and Aselsan Elektronik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Aselsan Elektronik 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 Aselsan Elektronik will offset losses from the drop in Aselsan Elektronik's long position.| BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Turkiye Kalkinma Bankasi |
| Aselsan Elektronik vs. Turkish Airlines | Aselsan Elektronik vs. Turkiye Petrol Rafinerileri | Aselsan Elektronik vs. Petkim Petrokimya Holding | Aselsan Elektronik vs. Eregli Demir ve |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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