Correlation Between BIST Electricity and Creditwest Faktoring
Specify exactly 2 symbols:
By analyzing existing cross correlation between BIST Electricity and Creditwest Faktoring AS, you can compare the effects of market volatilities on BIST Electricity and Creditwest Faktoring 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 Creditwest Faktoring. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Creditwest Faktoring.
Diversification Opportunities for BIST Electricity and Creditwest Faktoring
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BIST and Creditwest is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Creditwest Faktoring AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Creditwest Faktoring 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 Creditwest Faktoring. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Creditwest Faktoring has no effect on the direction of BIST Electricity i.e., BIST Electricity and Creditwest Faktoring go up and down completely randomly.
Pair Corralation between BIST Electricity and Creditwest Faktoring
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Creditwest Faktoring. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 2.33 times less risky than Creditwest Faktoring. The index trades about -0.02 of its potential returns per unit of risk. The Creditwest Faktoring AS is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 632.00 in Creditwest Faktoring AS on September 1, 2024 and sell it today you would earn a total of 84.00 from holding Creditwest Faktoring AS or generate 13.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Creditwest Faktoring AS
Performance |
| Timeline |
BIST Electricity and Creditwest Faktoring Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Creditwest Faktoring AS
Pair trading matchups for Creditwest Faktoring
Pair Trading with BIST Electricity and Creditwest Faktoring
The main advantage of trading using opposite BIST Electricity and Creditwest Faktoring positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Creditwest Faktoring 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 Creditwest Faktoring will offset losses from the drop in Creditwest Faktoring's long position.| BIST Electricity vs. MEGA METAL | BIST Electricity vs. Sodas Sodyum Sanayi | BIST Electricity vs. Silverline Endustri ve | BIST Electricity vs. Gentas Genel Metal |
| Creditwest Faktoring vs. Silverline Endustri ve | Creditwest Faktoring vs. Cuhadaroglu Metal Sanayi | Creditwest Faktoring vs. Qnb Finansbank AS | Creditwest Faktoring vs. E Data Teknoloji Pazarlama |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |