Correlation Analysis Between Facebook and iQIYI

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

Facebook  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Despite somewhat strong basic indicators, Facebook is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short term losses for the investors.
iQIYI  
00

Risk-Adjusted Performance

Over the last 30 days iQIYI has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite weak performance in the last few months, the Stock's forward-looking indicators remain very unfluctuating which may send shares a bit higher in July 2019. The recent disarray may also be a sign of long period up-swing for the corporate body insiders.

Facebook and iQIYI Volatility Contrast

 Predicted Return Density 
      Returns 

Facebook Inc  vs.  iQIYI

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to generate 0.8 times more return on investment than iQIYI. However, Facebook is 1.26 times less risky than iQIYI. It trades about 0.02 of its potential returns per unit of risk. iQIYI is currently generating about -0.15 per unit of risk. If you would invest  19,149  in Facebook on May 26, 2019 and sell it today you would earn a total of  111.00  from holding Facebook or generate 0.58% return on investment over 30 days.

Pair Corralation between Facebook and iQIYI

-0.07
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.35%
ValuesDaily Returns

Diversification Opportunities for Facebook and iQIYI

Facebook Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and iQIYI in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on iQIYI and Facebook 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 Facebook are associated (or correlated) with iQIYI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iQIYI has no effect on the direction of Facebook i.e. Facebook and iQIYI go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.


 
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