Correlation Between BIST Electricity and Yayla Enerji
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By analyzing existing cross correlation between BIST Electricity and Yayla Enerji Uretim, you can compare the effects of market volatilities on BIST Electricity and Yayla Enerji 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 Yayla Enerji. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Yayla Enerji.
Diversification Opportunities for BIST Electricity and Yayla Enerji
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between BIST and Yayla is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Yayla Enerji Uretim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yayla Enerji Uretim 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 Yayla Enerji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yayla Enerji Uretim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Yayla Enerji go up and down completely randomly.
Pair Corralation between BIST Electricity and Yayla Enerji
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Yayla Enerji. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 1.72 times less risky than Yayla Enerji. The index trades about -0.21 of its potential returns per unit of risk. The Yayla Enerji Uretim is currently generating about 0.3 of returns per unit of risk over similar time horizon. If you would invest 1,988 in Yayla Enerji Uretim on November 29, 2024 and sell it today you would earn a total of 302.00 from holding Yayla Enerji Uretim or generate 15.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 91.3% |
| Values | Daily Returns |
BIST Electricity vs. Yayla Enerji Uretim
Performance |
| Timeline |
BIST Electricity and Yayla Enerji Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Yayla Enerji Uretim
Pair trading matchups for Yayla Enerji
Pair Trading with BIST Electricity and Yayla Enerji
The main advantage of trading using opposite BIST Electricity and Yayla Enerji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Yayla Enerji 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 Yayla Enerji will offset losses from the drop in Yayla Enerji's long position.| BIST Electricity vs. KOC METALURJI | BIST Electricity vs. MEGA METAL | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Sekerbank TAS |
| Yayla Enerji vs. Zorlu Enerji Elektrik | Yayla Enerji vs. Turk Prysmian Kablo | Yayla Enerji vs. Sok Marketler Ticaret |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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