Correlation Between CHII and KraneShares Bosera
Can any of the company-specific risk be diversified away by investing in both CHII and KraneShares Bosera at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CHII and KraneShares Bosera into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CHII and KraneShares Bosera MSCI, you can compare the effects of market volatilities on CHII and KraneShares Bosera 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 CHII with a short position of KraneShares Bosera. Check out your portfolio center. Please also check ongoing floating volatility patterns of CHII and KraneShares Bosera.
Diversification Opportunities for CHII and KraneShares Bosera
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CHII and KraneShares is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding CHII and KraneShares Bosera MSCI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KraneShares Bosera MSCI and CHII 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 CHII are associated (or correlated) with KraneShares Bosera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KraneShares Bosera MSCI has no effect on the direction of CHII i.e., CHII and KraneShares Bosera go up and down completely randomly.
Pair Corralation between CHII and KraneShares Bosera
If you would invest 2,132 in KraneShares Bosera MSCI on August 28, 2024 and sell it today you would earn a total of 220.00 from holding KraneShares Bosera MSCI or generate 10.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 1.56% |
| Values | Daily Returns |
CHII vs. KraneShares Bosera MSCI
Performance |
| Timeline |
| CHII |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| KraneShares Bosera MSCI |
CHII and KraneShares Bosera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CHII and KraneShares Bosera
The main advantage of trading using opposite CHII and KraneShares Bosera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CHII position performs unexpectedly, KraneShares Bosera 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 KraneShares Bosera will offset losses from the drop in KraneShares Bosera's long position.| CHII vs. iShares MSCI Singapore | CHII vs. iShares MSCI Malaysia | CHII vs. iShares MSCI Australia | CHII vs. iShares MSCI South |
| KraneShares Bosera vs. Global X MSCI | KraneShares Bosera vs. KraneShares MSCI All | KraneShares Bosera vs. Xtrackers Harvest CSI |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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