Correlation Between BIST Electricity and Datagate Bilgisayar
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By analyzing existing cross correlation between BIST Electricity and Datagate Bilgisayar Malzemeleri, you can compare the effects of market volatilities on BIST Electricity and Datagate Bilgisayar 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 Datagate Bilgisayar. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Datagate Bilgisayar.
Diversification Opportunities for BIST Electricity and Datagate Bilgisayar
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BIST and Datagate is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Datagate Bilgisayar Malzemeler in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Datagate Bilgisayar 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 Datagate Bilgisayar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Datagate Bilgisayar has no effect on the direction of BIST Electricity i.e., BIST Electricity and Datagate Bilgisayar go up and down completely randomly.
Pair Corralation between BIST Electricity and Datagate Bilgisayar
Assuming the 90 days trading horizon BIST Electricity is expected to generate 1.17 times less return on investment than Datagate Bilgisayar. But when comparing it to its historical volatility, BIST Electricity is 1.84 times less risky than Datagate Bilgisayar. It trades about 0.14 of its potential returns per unit of risk. Datagate Bilgisayar Malzemeleri is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 3,970 in Datagate Bilgisayar Malzemeleri on September 1, 2024 and sell it today you would earn a total of 182.00 from holding Datagate Bilgisayar Malzemeleri or generate 4.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Datagate Bilgisayar Malzemeler
Performance |
| Timeline |
BIST Electricity and Datagate Bilgisayar Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Datagate Bilgisayar Malzemeleri
Pair trading matchups for Datagate Bilgisayar
Pair Trading with BIST Electricity and Datagate Bilgisayar
The main advantage of trading using opposite BIST Electricity and Datagate Bilgisayar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Datagate Bilgisayar 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 Datagate Bilgisayar will offset losses from the drop in Datagate Bilgisayar'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 |
| Datagate Bilgisayar vs. Akbank TAS | Datagate Bilgisayar vs. Galatasaray Sportif Sinai | Datagate Bilgisayar vs. MEGA METAL | Datagate Bilgisayar 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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