Correlation Between BIST Electricity and Vakif Finansal
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By analyzing existing cross correlation between BIST Electricity and Vakif Finansal Kiralama, you can compare the effects of market volatilities on BIST Electricity and Vakif 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 Vakif Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Vakif Finansal.
Diversification Opportunities for BIST Electricity and Vakif Finansal
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between BIST and Vakif is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Vakif Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vakif 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 Vakif Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vakif Finansal Kiralama has no effect on the direction of BIST Electricity i.e., BIST Electricity and Vakif Finansal go up and down completely randomly.
Pair Corralation between BIST Electricity and Vakif Finansal
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.48 times more return on investment than Vakif Finansal. However, BIST Electricity is 2.07 times less risky than Vakif Finansal. It trades about 0.17 of its potential returns per unit of risk. Vakif Finansal Kiralama is currently generating about -0.02 per unit of risk. If you would invest 46,978 in BIST Electricity on August 28, 2024 and sell it today you would earn a total of 2,337 from holding BIST Electricity or generate 4.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Vakif Finansal Kiralama
Performance |
| Timeline |
BIST Electricity and Vakif Finansal Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Vakif Finansal Kiralama
Pair trading matchups for Vakif Finansal
Pair Trading with BIST Electricity and Vakif Finansal
The main advantage of trading using opposite BIST Electricity and Vakif Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Vakif 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 Vakif Finansal will offset losses from the drop in Vakif Finansal's long position.| BIST Electricity vs. Creditwest Faktoring AS | BIST Electricity vs. MEGA METAL | BIST Electricity vs. Datagate Bilgisayar Malzemeleri | BIST Electricity vs. Cuhadaroglu Metal Sanayi |
| Vakif Finansal vs. Turkiye Is Bankasi | Vakif Finansal vs. Turkiye Is Bankasi | Vakif Finansal vs. Haci Omer Sabanci | Vakif Finansal vs. Turkiye Halk Bankasi |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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