Correlation Between BIST Electricity and Cemtas Celik
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By analyzing existing cross correlation between BIST Electricity and Cemtas Celik Makina, you can compare the effects of market volatilities on BIST Electricity and Cemtas Celik 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 Cemtas Celik. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Cemtas Celik.
Diversification Opportunities for BIST Electricity and Cemtas Celik
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between BIST and Cemtas is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Cemtas Celik Makina in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cemtas Celik Makina 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 Cemtas Celik. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cemtas Celik Makina has no effect on the direction of BIST Electricity i.e., BIST Electricity and Cemtas Celik go up and down completely randomly.
Pair Corralation between BIST Electricity and Cemtas Celik
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Cemtas Celik. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 1.33 times less risky than Cemtas Celik. The index trades about -0.24 of its potential returns per unit of risk. The Cemtas Celik Makina is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 923.00 in Cemtas Celik Makina on November 27, 2024 and sell it today you would earn a total of 31.00 from holding Cemtas Celik Makina or generate 3.36% 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. Cemtas Celik Makina
Performance |
| Timeline |
BIST Electricity and Cemtas Celik Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Cemtas Celik Makina
Pair trading matchups for Cemtas Celik
Pair Trading with BIST Electricity and Cemtas Celik
The main advantage of trading using opposite BIST Electricity and Cemtas Celik positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Cemtas Celik 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 Cemtas Celik will offset losses from the drop in Cemtas Celik's long position.| BIST Electricity vs. Borlease Otomotiv AS | BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. ICBC Turkey Bank | BIST Electricity vs. Turkiye Kalkinma Bankasi |
| Cemtas Celik vs. Sodas Sodyum Sanayi | Cemtas Celik vs. Bms Birlesik Metal | Cemtas Celik vs. Galatasaray Sportif Sinai | Cemtas Celik vs. Turkish Airlines |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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