Correlation Between KraneShares Bosera and CHII
Can any of the company-specific risk be diversified away by investing in both KraneShares Bosera and CHII 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 KraneShares Bosera and CHII into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KraneShares Bosera MSCI and CHII, you can compare the effects of market volatilities on KraneShares Bosera and CHII 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 KraneShares Bosera with a short position of CHII. Check out your portfolio center. Please also check ongoing floating volatility patterns of KraneShares Bosera and CHII.
Diversification Opportunities for KraneShares Bosera and CHII
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KraneShares and CHII is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding KraneShares Bosera MSCI and CHII in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CHII and KraneShares Bosera 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 KraneShares Bosera MSCI are associated (or correlated) with CHII. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CHII has no effect on the direction of KraneShares Bosera i.e., KraneShares Bosera and CHII go up and down completely randomly.
Pair Corralation between KraneShares Bosera and CHII
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 |
KraneShares Bosera MSCI vs. CHII
Performance |
| Timeline |
| KraneShares Bosera MSCI |
| CHII |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
KraneShares Bosera and CHII Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KraneShares Bosera and CHII
The main advantage of trading using opposite KraneShares Bosera and CHII positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KraneShares Bosera position performs unexpectedly, CHII 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 CHII will offset losses from the drop in CHII's long position.| KraneShares Bosera vs. Global X MSCI | KraneShares Bosera vs. KraneShares MSCI All | KraneShares Bosera vs. Xtrackers Harvest CSI |
| CHII vs. iShares MSCI Singapore | CHII vs. iShares MSCI Malaysia | CHII vs. iShares MSCI Australia | CHII vs. iShares MSCI South |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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