Correlation Analysis Between iShares Italy and Facebook

This module allows you to analyze existing cross correlation between iShares Italy Govt Bond ETF EUR Dist and Facebook. You can compare the effects of market volatilities on iShares Italy and Facebook 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 iShares Italy with a short position of Facebook. See also your portfolio center. Please also check ongoing floating volatility patterns of iShares Italy and Facebook.
 Time Horizon     30 Days    Login   to change
Symbolsvs

iShares Italy Govt Bond ETF EU  vs.  Facebook Inc

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, iShares Italy Govt Bond ETF EUR Dist is expected to under-perform the Facebook. But the etf apears to be less risky and, when comparing its historical volatility, iShares Italy Govt Bond ETF EUR Dist is 3.24 times less risky than Facebook. The etf trades about -0.03 of its potential returns per unit of risk. The Facebook is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  19,585  in Facebook on June 15, 2018 and sell it today you would earn a total of  1,147  from holding Facebook or generate 5.86% return on investment over 30 days.

Pair Corralation between iShares Italy and Facebook

-0.31
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy90.48%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
iShares Italy Govt  
0 

Risk-Adjusted Performance

Over the last 30 days iShares Italy Govt Bond ETF EUR Dist has generated negative risk-adjusted returns adding no value to investors with long positions.
Facebook  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1188.82

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