Correlation Analysis Between Facebook and Equinix

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

Facebook Inc  vs.  Equinix Inc

 Performance (%) 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to generate 1.21 times more return on investment than Equinix. However, Facebook is 1.21 times more volatile than Equinix. It trades about -0.12 of its potential returns per unit of risk. Equinix is currently generating about -0.44 per unit of risk. If you would invest  16,058  in Facebook on September 16, 2018 and sell it today you would lose (684.00)  from holding Facebook or give up 4.26% of portfolio value over 30 days.

Pair Corralation between Facebook and Equinix

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

Risk-Adjusted Performance

Over the last 30 days Facebook has generated negative risk-adjusted returns adding no value to investors with long positions.

Risk-Adjusted Performance

Over the last 30 days Equinix has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.