Correlation Between BIST Electricity and Besiktas Futbol
Specify exactly 2 symbols:
By analyzing existing cross correlation between BIST Electricity and Besiktas Futbol Yatirimlari, you can compare the effects of market volatilities on BIST Electricity and Besiktas Futbol 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 Besiktas Futbol. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Besiktas Futbol.
Diversification Opportunities for BIST Electricity and Besiktas Futbol
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between BIST and Besiktas is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Besiktas Futbol Yatirimlari in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Besiktas Futbol Yati 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 Besiktas Futbol. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Besiktas Futbol Yati has no effect on the direction of BIST Electricity i.e., BIST Electricity and Besiktas Futbol go up and down completely randomly.
Pair Corralation between BIST Electricity and Besiktas Futbol
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.45 times more return on investment than Besiktas Futbol. However, BIST Electricity is 2.21 times less risky than Besiktas Futbol. It trades about 0.26 of its potential returns per unit of risk. Besiktas Futbol Yatirimlari is currently generating about 0.02 per unit of risk. If you would invest 47,789 in BIST Electricity on September 13, 2024 and sell it today you would earn a total of 2,992 from holding BIST Electricity or generate 6.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Besiktas Futbol Yatirimlari
Performance |
| Timeline |
BIST Electricity and Besiktas Futbol Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Besiktas Futbol Yatirimlari
Pair trading matchups for Besiktas Futbol
Pair Trading with BIST Electricity and Besiktas Futbol
The main advantage of trading using opposite BIST Electricity and Besiktas Futbol positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Besiktas Futbol 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 Besiktas Futbol will offset losses from the drop in Besiktas Futbol's long position.| BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. CEO Event Medya | BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Sodas Sodyum Sanayi |
| Besiktas Futbol vs. MEGA METAL | Besiktas Futbol vs. Bms Birlesik Metal | Besiktas Futbol vs. Politeknik Metal Sanayi | Besiktas Futbol vs. Cuhadaroglu Metal Sanayi |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |