Correlation Between BIST Electricity and Seker Finansal
Specify exactly 2 symbols:
By analyzing existing cross correlation between BIST Electricity and Seker Finansal Kiralama, you can compare the effects of market volatilities on BIST Electricity and Seker 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 Seker Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Seker Finansal.
Diversification Opportunities for BIST Electricity and Seker Finansal
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BIST and Seker is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Seker Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seker 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 Seker Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seker Finansal Kiralama has no effect on the direction of BIST Electricity i.e., BIST Electricity and Seker Finansal go up and down completely randomly.
Pair Corralation between BIST Electricity and Seker Finansal
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.45 times more return on investment than Seker Finansal. However, BIST Electricity is 2.22 times less risky than Seker Finansal. It trades about -0.15 of its potential returns per unit of risk. Seker Finansal Kiralama is currently generating about -0.09 per unit of risk. If you would invest 49,693 in BIST Electricity on December 1, 2024 and sell it today you would lose (2,047) from holding BIST Electricity or give up 4.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
BIST Electricity vs. Seker Finansal Kiralama
Performance |
| Timeline |
BIST Electricity and Seker Finansal Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Seker Finansal Kiralama
Pair trading matchups for Seker Finansal
Pair Trading with BIST Electricity and Seker Finansal
The main advantage of trading using opposite BIST Electricity and Seker Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Seker 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 Seker Finansal will offset losses from the drop in Seker Finansal's long position.| BIST Electricity vs. KOC METALURJI | BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. Borlease Otomotiv AS | BIST Electricity vs. Datagate Bilgisayar Malzemeleri |
| Seker Finansal vs. MEGA METAL | Seker Finansal vs. Koza Anadolu Metal | Seker Finansal vs. Politeknik Metal Sanayi | Seker Finansal vs. Bms Birlesik Metal |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |