Pair Correlation 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

If you would invest  584.00  in 21Vianet Group on March 24, 2018 and sell it today you would earn a total of  0.00  from holding 21Vianet Group or generate 0.0% return on investment over 30 days.

Pair Corralation between Facebook and 21Vianet

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.19%
ValuesDaily Returns

Diversification

Pay attention

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

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  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in 21Vianet Group are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1065.28

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