Correlation Between Bank of China and Kunwu Jiuding
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By analyzing existing cross correlation between Bank of China and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Bank of China and Kunwu Jiuding 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 Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of China and Kunwu Jiuding.
Diversification Opportunities for Bank of China and Kunwu Jiuding
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bank and Kunwu is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Bank of China and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment 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 Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of Bank of China i.e., Bank of China and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Bank of China and Kunwu Jiuding
Assuming the 90 days trading horizon Bank of China is expected to generate 0.37 times more return on investment than Kunwu Jiuding. However, Bank of China is 2.68 times less risky than Kunwu Jiuding. It trades about 0.16 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about -0.11 per unit of risk. If you would invest 489.00 in Bank of China on November 6, 2024 and sell it today you would earn a total of 56.00 from holding Bank of China or generate 11.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bank of China vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| Bank of China |
| Kunwu Jiuding Investment |
Bank of China and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of China and Kunwu Jiuding
The main advantage of trading using opposite Bank of China and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of China position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| Bank of China vs. Fibocom Wireless | Bank of China vs. Nanjing Putian Telecommunications | Bank of China vs. Jilin Jlu Communication | Bank of China vs. Queclink Wireless Solutions |
| Kunwu Jiuding vs. Semiconductor Manufacturing Intl | Kunwu Jiuding vs. Suzhou Oriental Semiconductor | Kunwu Jiuding vs. Sportsoul Co Ltd | Kunwu Jiuding vs. Lander Sports Development |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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