Correlation Analysis Between Facebook and NQ Mobile

This module allows you to analyze existing cross correlation between Facebook and NQ Mobile. You can compare the effects of market volatilities on Facebook and NQ Mobile 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 Facebook with a short position of NQ Mobile. See also your portfolio center. Please also check ongoing floating volatility patterns of Facebook and NQ Mobile.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Facebook Inc  vs.  NQ Mobile Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  20,206  in Facebook on June 20, 2018 and sell it today you would earn a total of  603.00  from holding Facebook or generate 2.98% return on investment over 30 days.

Pair Corralation between Facebook and NQ Mobile

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy59.09%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and NQ Mobile Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQ Mobile and Facebook 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 Facebook are associated (or correlated) with NQ Mobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQ Mobile has no effect on the direction of Facebook i.e. Facebook and NQ Mobile go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Facebook  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
NQ Mobile  
0 

Risk-Adjusted Performance

Over the last 30 days NQ Mobile has generated negative risk-adjusted returns adding no value to investors with long positions.

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Alphabet
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1189.31

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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