Correlation Analysis Between Jianpu Technology and Facebook

This module allows you to analyze existing cross correlation between Jianpu Technology and Facebook. You can compare the effects of market volatilities on Jianpu Technology 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 Jianpu Technology with a short position of Facebook. See also your portfolio center. Please also check ongoing floating volatility patterns of Jianpu Technology and Facebook.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Jianpu Technology  
00

Risk-Adjusted Performance

Over the last 30 days Jianpu Technology has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's essential indicators remain comparatively unchanging which may send shares a bit higher in November 2019. The late uproar may also be a sign of mid-term up-swing for the firm leadership.
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 unfluctuating 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.

Jianpu Technology and Facebook Volatility Contrast

 Predicted Return Density 
      Returns 

Jianpu Technology Inc  vs.  Facebook Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Jianpu Technology is expected to under-perform the Facebook. In addition to that, Jianpu Technology is 2.15 times more volatile than Facebook. It trades about -0.2 of its total potential returns per unit of risk. Facebook is currently generating about -0.07 per unit of volatility. If you would invest  20,232  in Facebook on September 18, 2019 and sell it today you would lose (1,647)  from holding Facebook or give up 8.14% of portfolio value over 30 days.

Pair Corralation between Jianpu Technology and Facebook

0.41
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy94.12%
ValuesDaily Returns

Diversification Opportunities for Jianpu Technology and Facebook

Jianpu Technology Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Jianpu Technology Inc and Facebook Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Facebook and Jianpu Technology 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 Jianpu Technology 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 Jianpu Technology i.e. Jianpu Technology and Facebook go up and down completely randomly.
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