Correlation Between BIST Electricity and Burcelik Vana
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By analyzing existing cross correlation between BIST Electricity and Burcelik Vana Sanayi, you can compare the effects of market volatilities on BIST Electricity and Burcelik Vana 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 Burcelik Vana. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Burcelik Vana.
Diversification Opportunities for BIST Electricity and Burcelik Vana
-0.87 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BIST and Burcelik is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Burcelik Vana Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Burcelik Vana 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 Burcelik Vana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Burcelik Vana Sanayi has no effect on the direction of BIST Electricity i.e., BIST Electricity and Burcelik Vana go up and down completely randomly.
Pair Corralation between BIST Electricity and Burcelik Vana
Assuming the 90 days trading horizon BIST Electricity is expected to generate 3.5 times less return on investment than Burcelik Vana. But when comparing it to its historical volatility, BIST Electricity is 2.27 times less risky than Burcelik Vana. It trades about 0.05 of its potential returns per unit of risk. Burcelik Vana Sanayi is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 3,166 in Burcelik Vana Sanayi on October 28, 2024 and sell it today you would earn a total of 7,634 from holding Burcelik Vana Sanayi or generate 241.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.19% |
| Values | Daily Returns |
BIST Electricity vs. Burcelik Vana Sanayi
Performance |
| Timeline |
BIST Electricity and Burcelik Vana Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Burcelik Vana Sanayi
Pair trading matchups for Burcelik Vana
Pair Trading with BIST Electricity and Burcelik Vana
The main advantage of trading using opposite BIST Electricity and Burcelik Vana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Burcelik Vana 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 Burcelik Vana will offset losses from the drop in Burcelik Vana's long position.| BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. Sodas Sodyum Sanayi | BIST Electricity vs. Creditwest Faktoring AS | BIST Electricity vs. Politeknik Metal Sanayi |
| Burcelik Vana vs. Sodas Sodyum Sanayi | Burcelik Vana vs. Gentas Genel Metal | Burcelik Vana vs. Borlease Otomotiv AS | Burcelik Vana vs. Sekerbank TAS |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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