Correlation Analysis Between United States and Facebook

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

United States Oil  vs.  Facebook Inc

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, United States is expected to generate 1.91 times less return on investment than Facebook. In addition to that, United States is 1.37 times more volatile than Facebook. It trades about 0.1 of its total potential returns per unit of risk. Facebook is currently generating about 0.26 per unit of volatility. 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 United States and Facebook

Time Period1 Month [change]
ValuesDaily Returns


Very good diversification

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

Comparative Volatility

 Predicted Return Density 
United States Oil  

Risk-Adjusted Performance

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

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.

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