Correlation Between BIST Electricity and Ihlas Yayin
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By analyzing existing cross correlation between BIST Electricity and Ihlas Yayin Holding, you can compare the effects of market volatilities on BIST Electricity and Ihlas Yayin 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 Ihlas Yayin. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Ihlas Yayin.
Diversification Opportunities for BIST Electricity and Ihlas Yayin
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BIST and Ihlas is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Ihlas Yayin Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ihlas Yayin 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 Ihlas Yayin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ihlas Yayin Holding has no effect on the direction of BIST Electricity i.e., BIST Electricity and Ihlas Yayin go up and down completely randomly.
Pair Corralation between BIST Electricity and Ihlas Yayin
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.22 times more return on investment than Ihlas Yayin. However, BIST Electricity is 4.45 times less risky than Ihlas Yayin. It trades about 0.24 of its potential returns per unit of risk. Ihlas Yayin Holding is currently generating about -0.25 per unit of risk. If you would invest 48,779 in BIST Electricity on September 19, 2024 and sell it today you would earn a total of 2,827 from holding BIST Electricity or generate 5.8% 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. Ihlas Yayin Holding
Performance |
| Timeline |
BIST Electricity and Ihlas Yayin Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Ihlas Yayin Holding
Pair trading matchups for Ihlas Yayin
Pair Trading with BIST Electricity and Ihlas Yayin
The main advantage of trading using opposite BIST Electricity and Ihlas Yayin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Ihlas Yayin 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 Ihlas Yayin will offset losses from the drop in Ihlas Yayin's long position.| BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Gentas Genel Metal | BIST Electricity vs. MEGA METAL | BIST Electricity vs. Politeknik Metal Sanayi |
| Ihlas Yayin vs. Datagate Bilgisayar Malzemeleri | Ihlas Yayin vs. Galatasaray Sportif Sinai | Ihlas Yayin vs. Politeknik Metal Sanayi | Ihlas Yayin vs. Akbank TAS |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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