Correlation Between BIST Electricity and Yibitas Yozgat
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By analyzing existing cross correlation between BIST Electricity and Yibitas Yozgat Isci, you can compare the effects of market volatilities on BIST Electricity and Yibitas Yozgat 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 Yibitas Yozgat. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Yibitas Yozgat.
Diversification Opportunities for BIST Electricity and Yibitas Yozgat
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between BIST and Yibitas is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Yibitas Yozgat Isci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yibitas Yozgat Isci 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 Yibitas Yozgat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yibitas Yozgat Isci has no effect on the direction of BIST Electricity i.e., BIST Electricity and Yibitas Yozgat go up and down completely randomly.
Pair Corralation between BIST Electricity and Yibitas Yozgat
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.55 times more return on investment than Yibitas Yozgat. However, BIST Electricity is 1.83 times less risky than Yibitas Yozgat. It trades about 0.14 of its potential returns per unit of risk. Yibitas Yozgat Isci is currently generating about -0.12 per unit of risk. If you would invest 47,057 in BIST Electricity on September 1, 2024 and sell it today you would earn a total of 2,032 from holding BIST Electricity or generate 4.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
BIST Electricity vs. Yibitas Yozgat Isci
Performance |
| Timeline |
BIST Electricity and Yibitas Yozgat Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Yibitas Yozgat Isci
Pair trading matchups for Yibitas Yozgat
Pair Trading with BIST Electricity and Yibitas Yozgat
The main advantage of trading using opposite BIST Electricity and Yibitas Yozgat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Yibitas Yozgat 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 Yibitas Yozgat will offset losses from the drop in Yibitas Yozgat's long position.| BIST Electricity vs. MEGA METAL | BIST Electricity vs. Sodas Sodyum Sanayi | BIST Electricity vs. Silverline Endustri ve | BIST Electricity vs. Gentas Genel Metal |
| Yibitas Yozgat vs. MEGA METAL | Yibitas Yozgat vs. Sodas Sodyum Sanayi | Yibitas Yozgat vs. Politeknik Metal Sanayi | Yibitas Yozgat vs. Akbank TAS |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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