Correlation Analysis Between Facebook and Bilibili

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

Comparative Performance

Facebook  
00

Risk-Adjusted Performance

Over the last 30 days Facebook has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.
Bilibili  
00

Risk-Adjusted Performance

Over the last 30 days Bilibili has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Bilibili is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.

Facebook and Bilibili Volatility Contrast

 Predicted Return Density 
      Returns 

Facebook Inc  vs.  Bilibili Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to under-perform the Bilibili. But the stock apears to be less risky and, when comparing its historical volatility, Facebook is 1.38 times less risky than Bilibili. The stock trades about -0.07 of its potential returns per unit of risk. The Bilibili is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  1,556  in Bilibili on September 19, 2019 and sell it today you would lose (115.00)  from holding Bilibili or give up 7.39% of portfolio value over 30 days.

Pair Corralation between Facebook and Bilibili

0.36
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.52%
ValuesDaily Returns

Diversification Opportunities for Facebook and Bilibili

Facebook Inc diversification synergy

Weak diversification

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