Correlation Analysis Between Altaba and Twitter

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

Altaba  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Altaba are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Altaba is not utilizing all of its potentials. The prevailing stock price disturbance, may contribute to short term losses for the investors.
Twitter  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Twitter are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Twitter reported solid returns over the last few months and may actually be approaching a breakup point.

Altaba and Twitter Volatility Contrast

 Predicted Return Density 
      Returns 

Altaba Inc  vs.  Twitter Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Altaba is expected to generate 15.17 times less return on investment than Twitter. But when comparing it to its historical volatility, Altaba is 4.78 times less risky than Twitter. It trades about 0.05 of its potential returns per unit of risk. Twitter is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  3,544  in Twitter on August 19, 2019 and sell it today you would earn a total of  780.00  from holding Twitter or generate 22.01% return on investment over 30 days.

Pair Corralation between Altaba and Twitter

0.97
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Altaba and Twitter

Altaba Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Altaba Inc and Twitter Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Twitter and Altaba 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 Altaba are associated (or correlated) with Twitter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Twitter has no effect on the direction of Altaba i.e. Altaba and Twitter go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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