Correlation Between BIST Electricity and Is Finansal
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By analyzing existing cross correlation between BIST Electricity and Is Finansal Kiralama, you can compare the effects of market volatilities on BIST Electricity and Is Finansal 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 Is Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Is Finansal.
Diversification Opportunities for BIST Electricity and Is Finansal
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BIST and ISFIN is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Is Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Is Finansal Kiralama 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 Is Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Is Finansal Kiralama has no effect on the direction of BIST Electricity i.e., BIST Electricity and Is Finansal go up and down completely randomly.
Pair Corralation between BIST Electricity and Is Finansal
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.94 times more return on investment than Is Finansal. However, BIST Electricity is 1.06 times less risky than Is Finansal. It trades about 0.14 of its potential returns per unit of risk. Is Finansal Kiralama is currently generating about 0.05 per unit of risk. If you would invest 47,057 in BIST Electricity on September 1, 2024 and sell it today you would earn a total of 2,032 from holding BIST Electricity or generate 4.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
BIST Electricity vs. Is Finansal Kiralama
Performance |
| Timeline |
BIST Electricity and Is Finansal Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Is Finansal Kiralama
Pair trading matchups for Is Finansal
Pair Trading with BIST Electricity and Is Finansal
The main advantage of trading using opposite BIST Electricity and Is Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Is Finansal 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 Is Finansal will offset losses from the drop in Is Finansal'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 |
| Is Finansal vs. Is Gayrimenkul Yatirim | Is Finansal vs. Tekfen Holding AS | Is Finansal vs. Turkiye Sinai Kalkinma | Is Finansal vs. Kardemir Karabuk Demir |
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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