Correlation Between BIST Electricity and Fondo Mutuo
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By analyzing existing cross correlation between BIST Electricity and Fondo Mutuo ETF, you can compare the effects of market volatilities on BIST Electricity and Fondo Mutuo 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 Fondo Mutuo. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIST Electricity and Fondo Mutuo.
Diversification Opportunities for BIST Electricity and Fondo Mutuo
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between BIST and Fondo is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding BIST Electricity and Fondo Mutuo ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fondo Mutuo ETF 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 Fondo Mutuo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fondo Mutuo ETF has no effect on the direction of BIST Electricity i.e., BIST Electricity and Fondo Mutuo go up and down completely randomly.
Pair Corralation between BIST Electricity and Fondo Mutuo
Assuming the 90 days trading horizon BIST Electricity is expected to generate 1.75 times more return on investment than Fondo Mutuo. However, BIST Electricity is 1.75 times more volatile than Fondo Mutuo ETF. It trades about 0.27 of its potential returns per unit of risk. Fondo Mutuo ETF is currently generating about -0.13 per unit of risk. If you would invest 55,221 in BIST Electricity on January 31, 2024 and sell it today you would earn a total of 4,872 from holding BIST Electricity or generate 8.82% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 80.95% |
Values | Daily Returns |
BIST Electricity vs. Fondo Mutuo ETF
Performance |
Timeline |
BIST Electricity and Fondo Mutuo Volatility Contrast
Predicted Return Density |
Returns |
BIST Electricity
Pair trading matchups for BIST Electricity
Fondo Mutuo ETF
Pair trading matchups for Fondo Mutuo
Pair Trading with BIST Electricity and Fondo Mutuo
The main advantage of trading using opposite BIST Electricity and Fondo Mutuo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIST Electricity position performs unexpectedly, Fondo Mutuo 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 Fondo Mutuo will offset losses from the drop in Fondo Mutuo's long position.BIST Electricity vs. Bms Birlesik Metal | BIST Electricity vs. Politeknik Metal Sanayi | BIST Electricity vs. Sekerbank TAS | BIST Electricity vs. E Data Teknoloji Pazarlama |
Fondo Mutuo vs. Fondo De Inversion | Fondo Mutuo vs. Fondo De Inversion | Fondo Mutuo vs. Fondo de Inversin | Fondo Mutuo vs. Fondo de Inversion |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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