Correlation Between BIST Electricity and Turkcell Iletisim
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By analyzing existing cross correlation between BIST Electricity and Turkcell Iletisim Hizmetleri, you can compare the effects of market volatilities on BIST Electricity and Turkcell Iletisim 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 Turkcell Iletisim. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Turkcell Iletisim.
Diversification Opportunities for BIST Electricity and Turkcell Iletisim
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BIST and Turkcell is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Turkcell Iletisim Hizmetleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Turkcell Iletisim 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 Turkcell Iletisim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Turkcell Iletisim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Turkcell Iletisim go up and down completely randomly.
Pair Corralation between BIST Electricity and Turkcell Iletisim
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Turkcell Iletisim. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 1.37 times less risky than Turkcell Iletisim. The index trades about -0.03 of its potential returns per unit of risk. The Turkcell Iletisim Hizmetleri is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 6,955 in Turkcell Iletisim Hizmetleri on August 29, 2024 and sell it today you would earn a total of 2,350 from holding Turkcell Iletisim Hizmetleri or generate 33.79% 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. Turkcell Iletisim Hizmetleri
Performance |
| Timeline |
BIST Electricity and Turkcell Iletisim Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Turkcell Iletisim Hizmetleri
Pair trading matchups for Turkcell Iletisim
Pair Trading with BIST Electricity and Turkcell Iletisim
The main advantage of trading using opposite BIST Electricity and Turkcell Iletisim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Turkcell Iletisim 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 Turkcell Iletisim will offset losses from the drop in Turkcell Iletisim's long position.| BIST Electricity vs. Gentas Genel Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Turkiye Kalkinma Bankasi | BIST Electricity vs. Sodas Sodyum Sanayi |
| Turkcell Iletisim vs. Turk Telekomunikasyon AS | Turkcell Iletisim vs. Aselsan Elektronik Sanayi | Turkcell Iletisim vs. Koc Holding AS | Turkcell Iletisim vs. Turkiye Petrol Rafinerileri |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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