Correlation Between BIST Electricity and Yesil Gayrimenkul
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By analyzing existing cross correlation between BIST Electricity and Yesil Gayrimenkul Yatirim, you can compare the effects of market volatilities on BIST Electricity and Yesil Gayrimenkul 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 Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Yesil Gayrimenkul.
Diversification Opportunities for BIST Electricity and Yesil Gayrimenkul
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BIST and Yesil is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Yesil Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil Gayrimenkul Yatirim 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 Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Gayrimenkul Yatirim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Yesil Gayrimenkul go up and down completely randomly.
Pair Corralation between BIST Electricity and Yesil Gayrimenkul
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Yesil Gayrimenkul. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 2.68 times less risky than Yesil Gayrimenkul. The index trades about -0.01 of its potential returns per unit of risk. The Yesil Gayrimenkul Yatirim is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 337.00 in Yesil Gayrimenkul Yatirim on September 2, 2024 and sell it today you would earn a total of 658.00 from holding Yesil Gayrimenkul Yatirim or generate 195.25% 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. Yesil Gayrimenkul Yatirim
Performance |
| Timeline |
BIST Electricity and Yesil Gayrimenkul Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Yesil Gayrimenkul Yatirim
Pair trading matchups for Yesil Gayrimenkul
Pair Trading with BIST Electricity and Yesil Gayrimenkul
The main advantage of trading using opposite BIST Electricity and Yesil Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Yesil Gayrimenkul 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 Gayrimenkul will offset losses from the drop in Yesil Gayrimenkul's long position.| BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. Qnb Finansbank AS | BIST Electricity vs. Turkiye Kalkinma Bankasi |
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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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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