Correlation Between Ziel Home and Bank of China
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ziel Home Furnishing and Bank of China, you can compare the effects of market volatilities on Ziel Home and Bank of China 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 Ziel Home with a short position of Bank of China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ziel Home and Bank of China.
Diversification Opportunities for Ziel Home and Bank of China
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ziel and Bank is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Ziel Home Furnishing and Bank of China in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of China and Ziel Home 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 Ziel Home Furnishing are associated (or correlated) with Bank of China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of China has no effect on the direction of Ziel Home i.e., Ziel Home and Bank of China go up and down completely randomly.
Pair Corralation between Ziel Home and Bank of China
Assuming the 90 days trading horizon Ziel Home Furnishing is expected to generate 1.24 times more return on investment than Bank of China. However, Ziel Home is 1.24 times more volatile than Bank of China. It trades about 0.26 of its potential returns per unit of risk. Bank of China is currently generating about 0.08 per unit of risk. If you would invest 1,811 in Ziel Home Furnishing on November 4, 2024 and sell it today you would earn a total of 160.00 from holding Ziel Home Furnishing or generate 8.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ziel Home Furnishing vs. Bank of China
Performance |
| Timeline |
| Ziel Home Furnishing |
| Bank of China |
Ziel Home and Bank of China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ziel Home and Bank of China
The main advantage of trading using opposite Ziel Home and Bank of China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ziel Home position performs unexpectedly, Bank of China 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 Bank of China will offset losses from the drop in Bank of China's long position.| Ziel Home vs. Lander Sports Development | Ziel Home vs. Jinxiandai Information Industry | Ziel Home vs. Biwin Storage Technology | Ziel Home vs. Guangdong TianYiMa Information |
| Bank of China vs. Guangzhou Haozhi Industrial | Bank of China vs. Hainan Mining Co | Bank of China vs. Qingdao Choho Industrial | Bank of China vs. Guangdong Jingyi Metal |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Transaction History View history of all your transactions and understand their impact on performance |