Correlation Analysis Between Twitter and International Business

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

Twitter  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Twitter are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Twitter reported solid returns over the last few months and may actually be approaching a breakup point.
International Business  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in International Business Machines are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Even with considerably uncertain technical indicators, International Business may actually be approaching a critical reversion point that can send shares even higher in October 2019.

Twitter and International Business Volatility Contrast

 Predicted Return Density 
      Returns 

Twitter Inc  vs.  International Business Machine

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Twitter is expected to generate 1.55 times more return on investment than International Business. However, Twitter is 1.55 times more volatile than International Business Machines. It trades about 0.11 of its potential returns per unit of risk. International Business Machines is currently generating about 0.09 per unit of risk. If you would invest  3,644  in Twitter on August 16, 2019 and sell it today you would earn a total of  562.00  from holding Twitter or generate 15.42% return on investment over 30 days.

Pair Corralation between Twitter and International Business

0.95
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Twitter and International Business

Twitter Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Twitter Inc and International Business Machine in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on International Business 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 International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of Twitter i.e. Twitter and International Business go up and down completely randomly.
See also your portfolio center. Please also try Companies Directory module to evaluate performance of over 100,000 stocks, funds, and etfs against different fundamentals.


 
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