Correlation Between Bank of China and Offcn Education
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By analyzing existing cross correlation between Bank of China and Offcn Education Technology, you can compare the effects of market volatilities on Bank of China and Offcn Education 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 Bank of China with a short position of Offcn Education. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of China and Offcn Education.
Diversification Opportunities for Bank of China and Offcn Education
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Bank and Offcn is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Bank of China and Offcn Education Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Offcn Education Tech and Bank of China 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 Bank of China are associated (or correlated) with Offcn Education. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Offcn Education Tech has no effect on the direction of Bank of China i.e., Bank of China and Offcn Education go up and down completely randomly.
Pair Corralation between Bank of China and Offcn Education
Assuming the 90 days trading horizon Bank of China is expected to generate 0.2 times more return on investment than Offcn Education. However, Bank of China is 4.91 times less risky than Offcn Education. It trades about 0.15 of its potential returns per unit of risk. Offcn Education Technology is currently generating about 0.01 per unit of risk. If you would invest 488.00 in Bank of China on August 29, 2024 and sell it today you would earn a total of 16.00 from holding Bank of China or generate 3.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank of China vs. Offcn Education Technology
Performance |
| Timeline |
| Bank of China |
| Offcn Education Tech |
Bank of China and Offcn Education Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of China and Offcn Education
The main advantage of trading using opposite Bank of China and Offcn Education positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of China position performs unexpectedly, Offcn Education 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 Offcn Education will offset losses from the drop in Offcn Education's long position.| Bank of China vs. Dhc Software Co | Bank of China vs. Jinyu Bio Technology Co | Bank of China vs. BTG Hotels Group | Bank of China vs. Linewell Software Co |
| Offcn Education vs. Agricultural Bank of | Offcn Education vs. Industrial and Commercial | Offcn Education vs. Bank of China | Offcn Education vs. China Construction Bank |
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 CEOs Directory module to screen CEOs from public companies around the world.
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