Correlation Between BIST Electricity and Baticim Bati
Specify exactly 2 symbols:
By analyzing existing cross correlation between BIST Electricity and Baticim Bati Anadolu, you can compare the effects of market volatilities on BIST Electricity and Baticim Bati 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 Baticim Bati. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Baticim Bati.
Diversification Opportunities for BIST Electricity and Baticim Bati
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BIST and Baticim is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Baticim Bati Anadolu in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baticim Bati Anadolu 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 Baticim Bati. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baticim Bati Anadolu has no effect on the direction of BIST Electricity i.e., BIST Electricity and Baticim Bati go up and down completely randomly.
Pair Corralation between BIST Electricity and Baticim Bati
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.53 times more return on investment than Baticim Bati. However, BIST Electricity is 1.87 times less risky than Baticim Bati. It trades about 0.05 of its potential returns per unit of risk. Baticim Bati Anadolu is currently generating about -0.16 per unit of risk. If you would invest 47,298 in BIST Electricity on August 30, 2024 and sell it today you would earn a total of 1,444 from holding BIST Electricity or generate 3.05% 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. Baticim Bati Anadolu
Performance |
| Timeline |
BIST Electricity and Baticim Bati Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Baticim Bati Anadolu
Pair trading matchups for Baticim Bati
Pair Trading with BIST Electricity and Baticim Bati
The main advantage of trading using opposite BIST Electricity and Baticim Bati positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Baticim Bati 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 Baticim Bati will offset losses from the drop in Baticim Bati's long position.| BIST Electricity vs. Galatasaray Sportif Sinai | BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Turkiye Kalkinma Bankasi |
| Baticim Bati vs. Is Yatirim Ortakligi | Baticim Bati vs. Euro Kapital Yatirim | Baticim Bati vs. Atlas Menkul Kiymetler | Baticim Bati vs. Dogus Gayrimenkul Yatirim |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |