Correlation Between BIST Electricity and Yesil Yapi
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By analyzing existing cross correlation between BIST Electricity and Yesil Yapi Endustrisi, you can compare the effects of market volatilities on BIST Electricity and Yesil Yapi 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 Yapi. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Yesil Yapi.
Diversification Opportunities for BIST Electricity and Yesil Yapi
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between BIST and Yesil is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Yesil Yapi Endustrisi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yesil Yapi Endustrisi 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 Yapi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yesil Yapi Endustrisi has no effect on the direction of BIST Electricity i.e., BIST Electricity and Yesil Yapi go up and down completely randomly.
Pair Corralation between BIST Electricity and Yesil Yapi
Assuming the 90 days trading horizon BIST Electricity is expected to under-perform the Yesil Yapi. But the index apears to be less risky and, when comparing its historical volatility, BIST Electricity is 2.69 times less risky than Yesil Yapi. The index trades about -0.05 of its potential returns per unit of risk. The Yesil Yapi Endustrisi is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 373.00 in Yesil Yapi Endustrisi on September 1, 2024 and sell it today you would earn a total of 213.00 from holding Yesil Yapi Endustrisi or generate 57.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.46% |
| Values | Daily Returns |
BIST Electricity vs. Yesil Yapi Endustrisi
Performance |
| Timeline |
BIST Electricity and Yesil Yapi Volatility Contrast
Predicted Return Density |
| Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Yesil Yapi Endustrisi
Pair trading matchups for Yesil Yapi
Pair Trading with BIST Electricity and Yesil Yapi
The main advantage of trading using opposite BIST Electricity and Yesil Yapi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Yesil Yapi 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 Yapi will offset losses from the drop in Yesil Yapi'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 |
| Yesil Yapi vs. Cuhadaroglu Metal Sanayi | Yesil Yapi vs. Trabzonspor Sportif Yatirim | Yesil Yapi vs. Akcansa Cimento Sanayi | Yesil Yapi vs. E Data Teknoloji Pazarlama |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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