Correlation Between BIST Electricity and Seker Gayrimenkul
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By analyzing existing cross correlation between BIST Electricity and Seker Gayrimenkul Yatirim, you can compare the effects of market volatilities on BIST Electricity and Seker Gayrimenkul 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 Seker Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Seker Gayrimenkul.
Diversification Opportunities for BIST Electricity and Seker Gayrimenkul
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BIST and Seker is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Seker Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seker Gayrimenkul Yatirim 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 Seker Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seker Gayrimenkul Yatirim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Seker Gayrimenkul go up and down completely randomly.
Pair Corralation between BIST Electricity and Seker Gayrimenkul
Assuming the 90 days trading horizon BIST Electricity is expected to generate 1.85 times less return on investment than Seker Gayrimenkul. But when comparing it to its historical volatility, BIST Electricity is 1.96 times less risky than Seker Gayrimenkul. It trades about 0.18 of its potential returns per unit of risk. Seker Gayrimenkul Yatirim is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 414.00 in Seker Gayrimenkul Yatirim on September 12, 2024 and sell it today you would earn a total of 34.00 from holding Seker Gayrimenkul Yatirim or generate 8.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Seker Gayrimenkul Yatirim
Performance |
| Timeline |
BIST Electricity and Seker Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Seker Gayrimenkul Yatirim
Pair trading matchups for Seker Gayrimenkul
Pair Trading with BIST Electricity and Seker Gayrimenkul
The main advantage of trading using opposite BIST Electricity and Seker Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Seker Gayrimenkul 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 Seker Gayrimenkul will offset losses from the drop in Seker Gayrimenkul's long position.| BIST Electricity vs. Trabzonspor Sportif Yatirim | BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Silverline Endustri ve |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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