This module allows you to analyze existing cross correlation between Facebook and VeriSign. You can compare the effects of market volatilities on Facebook and VeriSign 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 VeriSign. See also your portfolio center
. Please also check ongoing floating volatility patterns of Facebook
Facebook Inc vs. VeriSign Inc
Allowing for the 30-days total investment horizon, Facebook is expected to generate 1.29 times more return on investment than VeriSign. However, Facebook is 1.29 times more volatile than VeriSign. It trades about 0.18 of its potential returns per unit of risk. VeriSign is currently generating about 0.13 per unit of risk. If you would invest 19,831 in Facebook on June 18, 2018 and sell it today you would earn a total of 1,168 from holding Facebook or generate 5.89% return on investment over 30 days.
Pair Corralation between Facebook and VeriSign
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and VeriSign Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on VeriSign 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 VeriSign. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VeriSign has no effect on the direction of Facebook i.e. Facebook and VeriSign go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in VeriSign are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
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