Correlation Analysis Between Facebook and EURONEXT BEL-20

This module allows you to analyze existing cross correlation between Facebook and EURONEXT BEL-20. You can compare the effects of market volatilities on Facebook and EURONEXT BEL-20 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 EURONEXT BEL-20. See also your portfolio center. Please also check ongoing floating volatility patterns of Facebook and EURONEXT BEL-20.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

 Predicted Return Density 
      Returns 

Facebook Inc  vs.  EURONEXT BEL-20

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to generate 3.28 times more return on investment than EURONEXT BEL-20. However, Facebook is 3.28 times more volatile than EURONEXT BEL-20. It trades about 0.08 of its potential returns per unit of risk. EURONEXT BEL-20 is currently generating about 0.17 per unit of risk. If you would invest  15,004  in Facebook on February 17, 2019 and sell it today you would earn a total of  993.00  from holding Facebook or generate 6.62% return on investment over 30 days.

Pair Corralation between Facebook and EURONEXT BEL-20

0.72
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy95.24%
ValuesDaily Returns

Diversification Opportunities for Facebook and EURONEXT BEL-20

Facebook Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and EURONEXT BEL-20 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EURONEXT BEL-20 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 EURONEXT BEL-20. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EURONEXT BEL-20 has no effect on the direction of Facebook i.e. Facebook and EURONEXT BEL-20 go up and down completely randomly.
    Optimize

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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.


 
Search macroaxis.com