Correlation Analysis Between Robo Global and Facebook

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

Robo Global RoboticsAutomation  vs.  Facebook Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Robo Global RoboticsAutomation ETF is expected to under-perform the Facebook. But the etf apears to be less risky and, when comparing its historical volatility, Robo Global RoboticsAutomation ETF is 1.61 times less risky than Facebook. The etf trades about -0.02 of its potential returns per unit of risk. The Facebook is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  20,206  in Facebook on June 20, 2018 and sell it today you would earn a total of  603.00  from holding Facebook or generate 2.98% return on investment over 30 days.

Pair Corralation between Robo Global and Facebook

0.72
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Robo Global Robotics  
0 

Risk-Adjusted Performance

Over the last 30 days Robo Global RoboticsAutomation ETF has generated negative risk-adjusted returns adding no value to investors with long positions.
Facebook  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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