Compare the size of coupon rate. The conversion coefficient is the price relationship of other deliverable bonds that can be calculated from the futures price of treasury bonds. By comparing the size of coupon rate, it can be determined whether the conversion coefficient is greater than 1. For bonds with coupon rate smaller than standard bonds (3%), the conversion coefficients are all less than 1, while those with coupon rate larger than standard bonds are greater than 1. If it is greater than 1, it means that the bond value used by futures short sellers for delivery is greater than the expected bond value, so the futures price should be raised to compensate the short sellers.