Correlation Between BIST Electricity and Lider Faktoring
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By analyzing existing cross correlation between BIST Electricity and Lider Faktoring AS, you can compare the effects of market volatilities on BIST Electricity and Lider Faktoring 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 Lider Faktoring. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Lider Faktoring.
Diversification Opportunities for BIST Electricity and Lider Faktoring
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between BIST and Lider is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Lider Faktoring AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lider Faktoring 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 Lider Faktoring. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lider Faktoring AS has no effect on the direction of BIST Electricity i.e., BIST Electricity and Lider Faktoring go up and down completely randomly.
Pair Corralation between BIST Electricity and Lider Faktoring
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Lider Faktoring. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 1.76 times less risky than Lider Faktoring. The index trades about 0.0 of its potential returns per unit of risk. The Lider Faktoring AS is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 205.00 in Lider Faktoring AS on August 26, 2024 and sell it today you would earn a total of 99.00 from holding Lider Faktoring AS or generate 48.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Lider Faktoring AS
Performance |
| Timeline |
BIST Electricity and Lider Faktoring Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Lider Faktoring AS
Pair trading matchups for Lider Faktoring
Pair Trading with BIST Electricity and Lider Faktoring
The main advantage of trading using opposite BIST Electricity and Lider Faktoring positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Lider Faktoring 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 Lider Faktoring will offset losses from the drop in Lider Faktoring's long position.| BIST Electricity vs. Galatasaray Sportif Sinai | BIST Electricity vs. MEGA METAL | BIST Electricity vs. Silverline Endustri ve | BIST Electricity vs. Gentas Genel Metal |
| Lider Faktoring vs. Bms Birlesik Metal | Lider Faktoring vs. Turkish Airlines | Lider Faktoring vs. Creditwest Faktoring AS | Lider Faktoring vs. Cuhadaroglu Metal Sanayi |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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