Correlation Between BIST Electricity and Hedef Holdings
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By analyzing existing cross correlation between BIST Electricity and Hedef Holdings AS, you can compare the effects of market volatilities on BIST Electricity and Hedef Holdings 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 Hedef Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Hedef Holdings.
Diversification Opportunities for BIST Electricity and Hedef Holdings
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between BIST and Hedef is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Hedef Holdings AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hedef Holdings AS 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 Hedef Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hedef Holdings AS has no effect on the direction of BIST Electricity i.e., BIST Electricity and Hedef Holdings go up and down completely randomly.
Pair Corralation between BIST Electricity and Hedef Holdings
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.59 times more return on investment than Hedef Holdings. However, BIST Electricity is 1.68 times less risky than Hedef Holdings. It trades about 0.26 of its potential returns per unit of risk. Hedef Holdings AS is currently generating about 0.07 per unit of risk. If you would invest 47,789 in BIST Electricity on September 13, 2024 and sell it today you would earn a total of 2,992 from holding BIST Electricity or generate 6.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
BIST Electricity vs. Hedef Holdings AS
Performance |
| Timeline |
BIST Electricity and Hedef Holdings Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Hedef Holdings AS
Pair trading matchups for Hedef Holdings
Pair Trading with BIST Electricity and Hedef Holdings
The main advantage of trading using opposite BIST Electricity and Hedef Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Hedef Holdings 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 Hedef Holdings will offset losses from the drop in Hedef Holdings' long position.| BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. CEO Event Medya | BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Sodas Sodyum Sanayi |
| Hedef Holdings vs. Verusa Holding AS | Hedef Holdings vs. GSD Holding AS | Hedef Holdings vs. Guler Yatirim Holding | Hedef Holdings vs. Verusaturk Girisim Sermayesi |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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