Correlation Between BIST Electricity and Guler Yatirim
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By analyzing existing cross correlation between BIST Electricity and Guler Yatirim Holding, you can compare the effects of market volatilities on BIST Electricity and Guler Yatirim 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 Guler Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Guler Yatirim.
Diversification Opportunities for BIST Electricity and Guler Yatirim
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BIST and Guler is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Guler Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guler Yatirim Holding 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 Guler Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guler Yatirim Holding has no effect on the direction of BIST Electricity i.e., BIST Electricity and Guler Yatirim go up and down completely randomly.
Pair Corralation between BIST Electricity and Guler Yatirim
Assuming the 90 days trading horizon BIST Electricity is expected to generate 14.41 times less return on investment than Guler Yatirim. But when comparing it to its historical volatility, BIST Electricity is 1.7 times less risky than Guler Yatirim. It trades about 0.0 of its potential returns per unit of risk. Guler Yatirim Holding is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,052 in Guler Yatirim Holding on September 4, 2024 and sell it today you would earn a total of 112.00 from holding Guler Yatirim Holding or generate 10.65% 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. Guler Yatirim Holding
Performance |
| Timeline |
BIST Electricity and Guler Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Guler Yatirim Holding
Pair trading matchups for Guler Yatirim
Pair Trading with BIST Electricity and Guler Yatirim
The main advantage of trading using opposite BIST Electricity and Guler Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Guler Yatirim 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 Guler Yatirim will offset losses from the drop in Guler Yatirim's long position.| BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Borlease Otomotiv AS | BIST Electricity vs. Turkiye Kalkinma Bankasi |
| Guler Yatirim vs. MEGA METAL | Guler Yatirim vs. Politeknik Metal Sanayi | Guler Yatirim vs. Sekerbank TAS | Guler Yatirim vs. Trabzonspor Sportif 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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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