Correlation Between BIST Electricity and Kristal Kola
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By analyzing existing cross correlation between BIST Electricity and Kristal Kola ve, you can compare the effects of market volatilities on BIST Electricity and Kristal Kola 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 Kristal Kola. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Kristal Kola.
Diversification Opportunities for BIST Electricity and Kristal Kola
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between BIST and Kristal is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Kristal Kola ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kristal Kola ve 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 Kristal Kola. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kristal Kola ve has no effect on the direction of BIST Electricity i.e., BIST Electricity and Kristal Kola go up and down completely randomly.
Pair Corralation between BIST Electricity and Kristal Kola
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.54 times more return on investment than Kristal Kola. However, BIST Electricity is 1.86 times less risky than Kristal Kola. It trades about 0.02 of its potential returns per unit of risk. Kristal Kola ve is currently generating about 0.0 per unit of risk. If you would invest 47,454 in BIST Electricity on September 23, 2024 and sell it today you would earn a total of 3,160 from holding BIST Electricity or generate 6.66% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 99.2% |
Values | Daily Returns |
BIST Electricity vs. Kristal Kola ve
Performance |
Timeline |
BIST Electricity and Kristal Kola Volatility Contrast
Predicted Return Density |
Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Kristal Kola ve
Pair trading matchups for Kristal Kola
Pair Trading with BIST Electricity and Kristal Kola
The main advantage of trading using opposite BIST Electricity and Kristal Kola positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Kristal Kola 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 Kristal Kola will offset losses from the drop in Kristal Kola's long position.BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. Sekerbank TAS | BIST Electricity vs. Koza Anadolu Metal |
Kristal Kola vs. MEGA METAL | Kristal Kola vs. Koza Anadolu Metal | Kristal Kola vs. Gentas Genel Metal | Kristal Kola 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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