Correlation Between Qiming Information and Bosera CMSK
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By analyzing existing cross correlation between Qiming Information Technology and Bosera CMSK Industrial, you can compare the effects of market volatilities on Qiming Information and Bosera CMSK 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 Qiming Information with a short position of Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qiming Information and Bosera CMSK.
Diversification Opportunities for Qiming Information and Bosera CMSK
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Qiming and Bosera is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Qiming Information Technology and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial and Qiming Information 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 Qiming Information Technology are associated (or correlated) with Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Qiming Information i.e., Qiming Information and Bosera CMSK go up and down completely randomly.
Pair Corralation between Qiming Information and Bosera CMSK
Assuming the 90 days trading horizon Qiming Information Technology is expected to under-perform the Bosera CMSK. In addition to that, Qiming Information is 2.94 times more volatile than Bosera CMSK Industrial. It trades about -0.13 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.34 per unit of volatility. If you would invest 205.00 in Bosera CMSK Industrial on October 28, 2024 and sell it today you would earn a total of 16.00 from holding Bosera CMSK Industrial or generate 7.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qiming Information Technology vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Qiming Information |
| Bosera CMSK Industrial |
Qiming Information and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qiming Information and Bosera CMSK
The main advantage of trading using opposite Qiming Information and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qiming Information position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Qiming Information vs. Bank of China | Qiming Information vs. Kweichow Moutai Co | Qiming Information vs. PetroChina Co Ltd | Qiming Information vs. Bank of Communications |
| Bosera CMSK vs. PetroChina Co Ltd | Bosera CMSK vs. China Mobile Limited | Bosera CMSK vs. CNOOC Limited | Bosera CMSK vs. Ping An Insurance |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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