Correlation Analysis Between ASSOCIATED BRITISH and Facebook

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

ASSOCIATED BRITISH FOODS  
99

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ASSOCIATED BRITISH FOODS are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. Inspite fairly unsteady basic indicators, ASSOCIATED BRITISH showed solid returns over the last few months and may actually be approaching a breakup point.
Facebook  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 3 (%) 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.

ASSOCIATED BRITISH and Facebook Volatility Contrast

 Predicted Return Density 
      Returns 

ASSOCIATED BRITISH FOODS  vs.  Facebook Inc

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ASSOCIATED BRITISH FOODS is expected to generate 1.63 times more return on investment than Facebook. However, ASSOCIATED BRITISH is 1.63 times more volatile than Facebook. It trades about 0.14 of its potential returns per unit of risk. Facebook is currently generating about 0.05 per unit of risk. If you would invest  2,905  in ASSOCIATED BRITISH FOODS on November 15, 2019 and sell it today you would earn a total of  580.00  from holding ASSOCIATED BRITISH FOODS or generate 19.97% return on investment over 30 days.

Pair Corralation between ASSOCIATED BRITISH and Facebook

0.9
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for ASSOCIATED BRITISH and Facebook

ASSOCIATED BRITISH FOODS diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding ASSOCIATED BRITISH FOODS and Facebook Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Facebook and ASSOCIATED BRITISH 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 ASSOCIATED BRITISH FOODS are associated (or correlated) with Facebook. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Facebook has no effect on the direction of ASSOCIATED BRITISH i.e. ASSOCIATED BRITISH and Facebook go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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