Correlation Analysis Between Twitter and SP Global

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

Comparative Performance

Twitter  
00

Risk-Adjusted Performance

Over the last 30 days Twitter has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of weak performance in the last few months, the Stock's forward-looking signals remain relatively invariable which may send shares a bit higher in January 2020. The latest agitation may also be a sign of long running up-swing for the enterprise management.
SP Global  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in SP Global are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, SP Global may actually be approaching a critical reversion point that can send shares even higher in January 2020.

Twitter and SP Global Volatility Contrast

 Predicted Return Density 
      Returns 

Twitter Inc  vs.  SP Global Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Twitter is expected to under-perform the SP Global. In addition to that, Twitter is 2.3 times more volatile than SP Global. It trades about -0.16 of its total potential returns per unit of risk. SP Global is currently generating about 0.11 per unit of volatility. If you would invest  25,007  in SP Global on November 12, 2019 and sell it today you would earn a total of  2,208  from holding SP Global or generate 8.83% return on investment over 30 days.

Pair Corralation between Twitter and SP Global

-0.62
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Twitter and SP Global

Twitter Inc diversification synergy

Excellent diversification

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