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Correlation Between Douyu International and Facebook

Analyzing existing cross correlation between Douyu International Holdings Ltd Ads and Facebook. You can compare the effects of market volatilities on Douyu International 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 Douyu International with a short position of Facebook. Check out your portfolio center. Please also check ongoing floating volatility patterns of Douyu International and Facebook.

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Diversification Opportunities for Douyu International and Facebook

Douyu International Holdings L diversification synergy
0.74
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Poor diversification

The 3 months correlation between Douyu and Facebook is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Douyu International Holdings L and Facebook Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Facebook and Douyu International 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 Douyu International Holdings Ltd Ads 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 Douyu International i.e. Douyu International and Facebook go up and down completely randomly.

Pair Corralation between Douyu International and Facebook

Given the investment horizon of 30 days, Douyu International Holdings Ltd Ads is expected to generate 1.48 times more return on investment than Facebook. However, Douyu International is 1.48 times more volatile than Facebook. It trades about -0.03 of its potential returns per unit of risk. Facebook is currently generating about -0.06 per unit of risk. If you would invest  936.00  in Douyu International Holdings Ltd Ads on March 8, 2020 and sell it today you would lose (192.00)  from holding Douyu International Holdings Ltd Ads or give up 20.51% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthSignificant
Accuracy92.42%
ValuesDaily Returns

Douyu International Holdings L  vs.  Facebook Inc

 Performance (%) 
    
  Timeline 
Douyu International 
00

Douyu International Risk-Adjusted Performance

Over the last 30 days Douyu International Holdings Ltd Ads has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's essential indicators remain unchanging and the late uproar on Wall Street may also be a sign of mid-term gains for the firm leadership.
Facebook 
00

Facebook Risk-Adjusted Performance

Over the last 30 days Facebook has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in May 2020. The current disturbance may also be a sign of long term up-swing for the company investors.

Douyu International and Facebook Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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