Correlation Between China Vanke and Bonree Data
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By analyzing existing cross correlation between China Vanke Co and Bonree Data Technology, you can compare the effects of market volatilities on China Vanke and Bonree Data 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 China Vanke with a short position of Bonree Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Vanke and Bonree Data.
Diversification Opportunities for China Vanke and Bonree Data
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between China and Bonree is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding China Vanke Co and Bonree Data Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bonree Data Technology and China Vanke 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 China Vanke Co are associated (or correlated) with Bonree Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bonree Data Technology has no effect on the direction of China Vanke i.e., China Vanke and Bonree Data go up and down completely randomly.
Pair Corralation between China Vanke and Bonree Data
Assuming the 90 days trading horizon China Vanke is expected to generate 1.87 times less return on investment than Bonree Data. But when comparing it to its historical volatility, China Vanke Co is 1.92 times less risky than Bonree Data. It trades about 0.09 of its potential returns per unit of risk. Bonree Data Technology is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 3,680 in Bonree Data Technology on November 6, 2024 and sell it today you would earn a total of 240.00 from holding Bonree Data Technology or generate 6.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Vanke Co vs. Bonree Data Technology
Performance |
| Timeline |
| China Vanke |
| Bonree Data Technology |
China Vanke and Bonree Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Vanke and Bonree Data
The main advantage of trading using opposite China Vanke and Bonree Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Vanke position performs unexpectedly, Bonree Data 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 Bonree Data will offset losses from the drop in Bonree Data's long position.| China Vanke vs. Shenzhen Zhongzhuang Construction | China Vanke vs. Xiangyu Medical Co | China Vanke vs. Allied Machinery Co | China Vanke vs. Sino Medical Sciences |
| Bonree Data vs. Invengo Information Technology | Bonree Data vs. Hygon Information Technology | Bonree Data vs. Guangzhou Seagull Kitchen | Bonree Data vs. Jiangsu Financial Leasing |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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