Correlation Between E Data and BIST Electricity
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By analyzing existing cross correlation between E Data Teknoloji Pazarlama and BIST Electricity, you can compare the effects of market volatilities on E Data and BIST Electricity 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 E Data with a short position of BIST Electricity. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Data and BIST Electricity.
Diversification Opportunities for E Data and BIST Electricity
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between EDATA and BIST is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding E Data Teknoloji Pazarlama and BIST Electricity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIST Electricity and E Data 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 E Data Teknoloji Pazarlama are associated (or correlated) with BIST Electricity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIST Electricity has no effect on the direction of E Data i.e., E Data and BIST Electricity go up and down completely randomly.
Pair Corralation between E Data and BIST Electricity
Assuming the 90 days trading horizon E Data Teknoloji Pazarlama is expected to under-perform the BIST Electricity. In addition to that, E Data is 1.67 times more volatile than BIST Electricity. It trades about -0.16 of its total potential returns per unit of risk. BIST Electricity is currently generating about 0.05 per unit of volatility. If you would invest 48,678 in BIST Electricity on September 22, 2024 and sell it today you would earn a total of 1,936 from holding BIST Electricity or generate 3.98% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
E Data Teknoloji Pazarlama vs. BIST Electricity
Performance |
Timeline |
E Data and BIST Electricity Volatility Contrast
Predicted Return Density |
Returns |
E Data Teknoloji Pazarlama
Pair trading matchups for E Data
BIST Electricity
Pair trading matchups for BIST Electricity
Pair Trading with E Data and BIST Electricity
The main advantage of trading using opposite E Data and BIST Electricity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Data position performs unexpectedly, BIST Electricity 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 BIST Electricity will offset losses from the drop in BIST Electricity's long position.E Data vs. Escort Teknoloji Yatirim | E Data vs. Koc Holding AS | E Data vs. Silverline Endustri ve | E Data vs. Turkiye Petrol Rafinerileri |
BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. Koza Anadolu Metal | BIST Electricity vs. Mackolik Internet Hizmetleri | BIST Electricity vs. ICBC Turkey Bank |
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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