Correlation Analysis Between Twitter and SP Global

This module allows you to analyze existing cross correlation between Twitter and SP Global. You can compare the effects of market volatilities on Twitter and SP Global 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 SP Global. See also your portfolio center. Please also check ongoing floating volatility patterns of Twitter and SP Global.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Twitter  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Twitter are ranked lower than 11 (%) 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.
SP Global  
1212

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in SP Global are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, SP Global layed out solid returns over the last few months and may actually be approaching a breakup point.

Twitter and SP Global Volatility Contrast

 Predicted Return Density 
      Returns 

Twitter Inc  vs.  SP Global Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Twitter is expected to generate 1.5 times more return on investment than SP Global. However, Twitter is 1.5 times more volatile than SP Global. It trades about 0.17 of its potential returns per unit of risk. SP Global is currently generating about 0.18 per unit of risk. If you would invest  3,472  in Twitter on July 25, 2019 and sell it today you would earn a total of  628.00  from holding Twitter or generate 18.09% return on investment over 30 days.

Pair Corralation between Twitter and SP Global

0.88
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for Twitter and SP Global

Twitter Inc diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Twitter Inc and SP Global Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP Global 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 SP Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP Global has no effect on the direction of Twitter i.e. Twitter and SP Global go up and down completely randomly.
See also your portfolio center. Please also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of macroaxis ideas.


 
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