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  
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 somewhat strong basic indicators, Facebook is not utilizing all of its potentials. The late 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 latest weak performance, the Stock's forward-looking indicators remain unfluctuating and the recent disarray on Wall Street may also be a sign of long period gains for the corporate body insiders.

Facebook and iQIYI Volatility Contrast

 Predicted Return Density 
      Returns 

Facebook Inc  vs.  iQIYI Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to generate 0.71 times more return on investment than iQIYI. However, Facebook is 1.41 times less risky than iQIYI. It trades about -0.03 of its potential returns per unit of risk. iQIYI is currently generating about -0.05 per unit of risk. If you would invest  18,847  in Facebook on July 18, 2019 and sell it today you would lose (477.00)  from holding Facebook or give up 2.53% of portfolio value over 30 days.

Pair Corralation between Facebook and iQIYI

0.51
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy78.57%
ValuesDaily Returns

Diversification Opportunities for Facebook and iQIYI

Facebook Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and iQIYI Inc 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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