Correlation Between BIST Electricity and Peker Gayrimenkul
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By analyzing existing cross correlation between BIST Electricity and Peker Gayrimenkul Yatirim, you can compare the effects of market volatilities on BIST Electricity and Peker 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 Peker Gayrimenkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Peker Gayrimenkul.
Diversification Opportunities for BIST Electricity and Peker Gayrimenkul
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between BIST and Peker is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Peker Gayrimenkul Yatirim in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peker 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 Peker Gayrimenkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peker Gayrimenkul Yatirim has no effect on the direction of BIST Electricity i.e., BIST Electricity and Peker Gayrimenkul go up and down completely randomly.
Pair Corralation between BIST Electricity and Peker Gayrimenkul
Assuming the 90 days trading horizon BIST Electricity is expected to generate 0.34 times more return on investment than Peker Gayrimenkul. However, BIST Electricity is 2.96 times less risky than Peker Gayrimenkul. It trades about 0.3 of its potential returns per unit of risk. Peker Gayrimenkul Yatirim is currently generating about -0.37 per unit of risk. If you would invest 55,221 in BIST Electricity on January 30, 2024 and sell it today you would earn a total of 5,310 from holding BIST Electricity or generate 9.62% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
BIST Electricity vs. Peker Gayrimenkul Yatirim
Performance |
Timeline |
BIST Electricity and Peker Gayrimenkul Volatility Contrast
Predicted Return Density |
Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Peker Gayrimenkul Yatirim
Pair trading matchups for Peker Gayrimenkul
Pair Trading with BIST Electricity and Peker Gayrimenkul
The main advantage of trading using opposite BIST Electricity and Peker Gayrimenkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Peker 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 Peker Gayrimenkul will offset losses from the drop in Peker Gayrimenkul's long position.BIST Electricity vs. Sekerbank TAS | BIST Electricity vs. Creditwest Faktoring AS | BIST Electricity vs. Turkish Airlines | BIST Electricity vs. Akcansa Cimento Sanayi |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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