Correlation Between BIST Electricity and Ata Gayrimenkul
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By analyzing existing cross correlation between BIST Electricity and Ata Gayrimenkul Yatirim, you can compare the effects of market volatilities on BIST Electricity and Ata 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 Ata Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Ata Gayrimenkul.
Diversification Opportunities for BIST Electricity and Ata Gayrimenkul
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BIST and Ata is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Ata Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ata 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 Ata Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ata Gayrimenkul Yatirim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Ata Gayrimenkul go up and down completely randomly.
Pair Corralation between BIST Electricity and Ata Gayrimenkul
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.66 times more return on investment than Ata Gayrimenkul. However, BIST Electricity is 1.52 times less risky than Ata Gayrimenkul. It trades about 0.23 of its potential returns per unit of risk. Ata Gayrimenkul Yatirim is currently generating about -0.06 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. Ata Gayrimenkul Yatirim
Performance |
| Timeline |
BIST Electricity and Ata Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Ata Gayrimenkul Yatirim
Pair trading matchups for Ata Gayrimenkul
Pair Trading with BIST Electricity and Ata Gayrimenkul
The main advantage of trading using opposite BIST Electricity and Ata Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Ata 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 Ata Gayrimenkul will offset losses from the drop in Ata Gayrimenkul'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 |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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