Correlation Between BIST Electricity and Hitit Bilgisayar
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By analyzing existing cross correlation between BIST Electricity and Hitit Bilgisayar Hizmetleri, you can compare the effects of market volatilities on BIST Electricity and Hitit 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 Hitit Bilgisayar. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Hitit Bilgisayar.
Diversification Opportunities for BIST Electricity and Hitit Bilgisayar
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between BIST and Hitit is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Hitit Bilgisayar Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hitit Bilgisayar Hiz 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 Hitit Bilgisayar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hitit Bilgisayar Hiz has no effect on the direction of BIST Electricity i.e., BIST Electricity and Hitit Bilgisayar go up and down completely randomly.
Pair Corralation between BIST Electricity and Hitit Bilgisayar
Assuming the 90 days trading horizon BIST Electricity is expected to generate 7.92 times less return on investment than Hitit Bilgisayar. But when comparing it to its historical volatility, BIST Electricity is 3.15 times less risky than Hitit Bilgisayar. It trades about 0.03 of its potential returns per unit of risk. Hitit Bilgisayar Hizmetleri is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 947.00 in Hitit Bilgisayar Hizmetleri on August 31, 2024 and sell it today you would earn a total of 2,553 from holding Hitit Bilgisayar Hizmetleri or generate 269.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.37% |
| Values | Daily Returns |
BIST Electricity vs. Hitit Bilgisayar Hizmetleri
Performance |
| Timeline |
BIST Electricity and Hitit Bilgisayar Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Hitit Bilgisayar Hizmetleri
Pair trading matchups for Hitit Bilgisayar
Pair Trading with BIST Electricity and Hitit Bilgisayar
The main advantage of trading using opposite BIST Electricity and Hitit Bilgisayar positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Hitit 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 Hitit Bilgisayar will offset losses from the drop in Hitit Bilgisayar's long position.| BIST Electricity vs. Datagate Bilgisayar Malzemeleri | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Akbank TAS | BIST Electricity vs. Bms Birlesik Metal |
| Hitit Bilgisayar vs. Kafein Yazilim | Hitit Bilgisayar vs. Brisa Bridgestone Sabanci | Hitit Bilgisayar vs. Dogus Gayrimenkul Yatirim | Hitit Bilgisayar vs. IZDEMIR Enerji Elektrik |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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