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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Facebook Inc  vs.  Equinix Inc

 Performance (%) 
      Timeline 

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 0.26 of its potential returns per unit of risk. Equinix is currently generating about 0.17 per unit of risk. If you would invest  19,635  in Facebook on June 23, 2018 and sell it today you would earn a total of  1,359  from holding Facebook or generate 6.92% return on investment over 30 days.

Pair Corralation between Facebook and Equinix

0.5
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak 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 
      Returns 
Facebook  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.
Equinix  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Equinix are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1184.91

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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">