Correlation Analysis Between Facebook and 21Vianet

This module allows you to analyze existing cross correlation between Facebook and 21Vianet Group. You can compare the effects of market volatilities on Facebook and 21Vianet 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 21Vianet. See also your portfolio center. Please also check ongoing floating volatility patterns of Facebook and 21Vianet.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Facebook Inc  vs.  21Vianet Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to generate 1.46 times more return on investment than 21Vianet. However, Facebook is 1.46 times more volatile than 21Vianet Group. It trades about -0.18 of its potential returns per unit of risk. 21Vianet Group is currently generating about -0.29 per unit of risk. If you would invest  20,994  in Facebook on July 20, 2018 and sell it today you would lose (3,614)  from holding Facebook or give up 17.21% of portfolio value over 30 days.

Pair Corralation between Facebook and 21Vianet

0.7
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and 21Vianet Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on 21Vianet Group 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 21Vianet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 21Vianet Group has no effect on the direction of Facebook i.e. Facebook and 21Vianet go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Facebook  
0 

Risk-Adjusted Performance

Over the last 30 days Facebook has generated negative risk-adjusted returns adding no value to investors with long positions.
21Vianet Group  
0 

Risk-Adjusted Performance

Over the last 30 days 21Vianet Group has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1206.49

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..