Correlation Between BIST Electricity and Trabzon Liman
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By analyzing existing cross correlation between BIST Electricity and Trabzon Liman Isletmeciligi, you can compare the effects of market volatilities on BIST Electricity and Trabzon Liman 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 Trabzon Liman. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Trabzon Liman.
Diversification Opportunities for BIST Electricity and Trabzon Liman
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between BIST and Trabzon is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Trabzon Liman Isletmeciligi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trabzon Liman Isletm 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 Trabzon Liman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trabzon Liman Isletm has no effect on the direction of BIST Electricity i.e., BIST Electricity and Trabzon Liman go up and down completely randomly.
Pair Corralation between BIST Electricity and Trabzon Liman
Assuming the 90 days trading horizon BIST Electricity is expected to generate 1.85 times less return on investment than Trabzon Liman. But when comparing it to its historical volatility, BIST Electricity is 2.57 times less risky than Trabzon Liman. It trades about 0.09 of its potential returns per unit of risk. Trabzon Liman Isletmeciligi is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 12,780 in Trabzon Liman Isletmeciligi on February 7, 2024 and sell it today you would earn a total of 950.00 from holding Trabzon Liman Isletmeciligi or generate 7.43% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 97.37% |
Values | Daily Returns |
BIST Electricity vs. Trabzon Liman Isletmeciligi
Performance |
Timeline |
BIST Electricity and Trabzon Liman Volatility Contrast
Predicted Return Density |
Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Trabzon Liman Isletmeciligi
Pair trading matchups for Trabzon Liman
Pair Trading with BIST Electricity and Trabzon Liman
The main advantage of trading using opposite BIST Electricity and Trabzon Liman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Trabzon Liman 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 Trabzon Liman will offset losses from the drop in Trabzon Liman's long position.BIST Electricity vs. Cuhadaroglu Metal Sanayi | BIST Electricity vs. Sekerbank TAS | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Mackolik Internet Hizmetleri |
Trabzon Liman vs. CEO Event Medya | Trabzon Liman vs. Sekerbank TAS | Trabzon Liman vs. Borlease Otomotiv AS | Trabzon Liman vs. Gentas Genel Metal |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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