Correlation Analysis Between Facebook and Jianpu Technology

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

Facebook  
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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 recent stock price disturbance, may contribute to short term losses for the investors.
Jianpu Technology  
00

Risk-Adjusted Performance

Over the last 30 days Jianpu Technology has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's essential indicators remain comparatively unchanging which may send shares a bit higher in October 2019. The late uproar may also be a sign of mid-term up-swing for the firm leadership.

Facebook and Jianpu Technology Volatility Contrast

 Predicted Return Density 
      Returns 

Facebook Inc  vs.  Jianpu Technology Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Facebook is expected to generate 0.48 times more return on investment than Jianpu Technology. However, Facebook is 2.07 times less risky than Jianpu Technology. It trades about 0.0 of its potential returns per unit of risk. Jianpu Technology is currently generating about -0.15 per unit of risk. If you would invest  18,748  in Facebook on August 18, 2019 and sell it today you would lose (126.00)  from holding Facebook or give up 0.67% of portfolio value over 30 days.

Pair Corralation between Facebook and Jianpu Technology

0.25
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for Facebook and Jianpu Technology

Facebook Inc diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Facebook Inc and Jianpu Technology Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Jianpu Technology 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 Jianpu Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jianpu Technology has no effect on the direction of Facebook i.e. Facebook and Jianpu Technology go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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