Correlation Between BIST Electricity and Suwen Tekstil
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By analyzing existing cross correlation between BIST Electricity and Suwen Tekstil Sanayi, you can compare the effects of market volatilities on BIST Electricity and Suwen Tekstil 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 Suwen Tekstil. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Suwen Tekstil.
Diversification Opportunities for BIST Electricity and Suwen Tekstil
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BIST and Suwen is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Suwen Tekstil Sanayi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suwen Tekstil Sanayi 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 Suwen Tekstil. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suwen Tekstil Sanayi has no effect on the direction of BIST Electricity i.e., BIST Electricity and Suwen Tekstil go up and down completely randomly.
Pair Corralation between BIST Electricity and Suwen Tekstil
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Suwen Tekstil. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 1.96 times less risky than Suwen Tekstil. The index trades about -0.17 of its potential returns per unit of risk. The Suwen Tekstil Sanayi is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest 2,284 in Suwen Tekstil Sanayi on November 28, 2024 and sell it today you would lose (84.00) from holding Suwen Tekstil Sanayi or give up 3.68% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Suwen Tekstil Sanayi
Performance |
| Timeline |
BIST Electricity and Suwen Tekstil Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Suwen Tekstil Sanayi
Pair trading matchups for Suwen Tekstil
Pair Trading with BIST Electricity and Suwen Tekstil
The main advantage of trading using opposite BIST Electricity and Suwen Tekstil positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Suwen Tekstil 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 Suwen Tekstil will offset losses from the drop in Suwen Tekstil's long position.| BIST Electricity vs. Gentas Genel Metal | BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. E Data Teknoloji Pazarlama |
| Suwen Tekstil vs. Dagi Giyim Sanayi | Suwen Tekstil vs. Rodrigo Tekstil Sanayi | Suwen Tekstil vs. Derluks Yatirim Holding | Suwen Tekstil vs. Ege Gubre 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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