Correlation Between BIST Electricity and Yesil Yatirim
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By analyzing existing cross correlation between BIST Electricity and Yesil Yatirim Holding, you can compare the effects of market volatilities on BIST Electricity and Yesil Yatirim 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 Yesil Yatirim. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Yesil Yatirim.
Diversification Opportunities for BIST Electricity and Yesil Yatirim
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BIST and Yesil is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Yesil Yatirim Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil Yatirim Holding 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 Yesil Yatirim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Yatirim Holding has no effect on the direction of BIST Electricity i.e., BIST Electricity and Yesil Yatirim go up and down completely randomly.
Pair Corralation between BIST Electricity and Yesil Yatirim
Assuming the 90 days trading horizon BIST Electricity is expected to generate 8.95 times less return on investment than Yesil Yatirim. But when comparing it to its historical volatility, BIST Electricity is 2.19 times less risky than Yesil Yatirim. It trades about 0.0 of its potential returns per unit of risk. Yesil Yatirim Holding is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 219.00 in Yesil Yatirim Holding on September 4, 2024 and sell it today you would lose (9.00) from holding Yesil Yatirim Holding or give up 4.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BIST Electricity vs. Yesil Yatirim Holding
Performance |
| Timeline |
BIST Electricity and Yesil Yatirim Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Yesil Yatirim Holding
Pair trading matchups for Yesil Yatirim
Pair Trading with BIST Electricity and Yesil Yatirim
The main advantage of trading using opposite BIST Electricity and Yesil Yatirim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Yesil Yatirim 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 Yesil Yatirim will offset losses from the drop in Yesil Yatirim's long position.| BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Borlease Otomotiv AS | BIST Electricity vs. Turkiye Kalkinma Bankasi |
| Yesil Yatirim vs. Mackolik Internet Hizmetleri | Yesil Yatirim vs. MEGA METAL | Yesil Yatirim vs. Politeknik Metal Sanayi | Yesil Yatirim vs. Datagate Bilgisayar Malzemeleri |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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