BindingContext between Page(Content) and view

Hi,

Could you please anyone guide me on what are the difference for BindingContext between Page(Content) and view(Controls-Label).

<**ContentPage**.BindingContext>
    <local:ContentViewModel/>
  </ContentPage.BindingContext>

<**Label**.BindingContext>
      <local:LabelViewModel />
    </Label.BindingContext>

Thanks in advance.