Correlation Analysis Between INGEN TECHNOLOGIES and Facebook

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

INGEN TECHNOLOGIES INC  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in INGEN TECHNOLOGIES INC are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively inconsistent essential indicators, INGEN TECHNOLOGIES unveiled solid returns over the last few months and may actually be approaching a breakup point.
Facebook  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Facebook are ranked lower than 4 (%) 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 continuing stock price disturbance, may contribute to short term losses for the investors.

INGEN TECHNOLOGIES and Facebook Volatility Contrast

 Predicted Return Density 
      Returns 

INGEN TECHNOLOGIES INC  vs.  Facebook Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, INGEN TECHNOLOGIES INC is expected to generate 21.73 times more return on investment than Facebook. However, INGEN TECHNOLOGIES is 21.73 times more volatile than Facebook. It trades about 0.06 of its potential returns per unit of risk. Facebook is currently generating about 0.07 per unit of risk. If you would invest  0.04  in INGEN TECHNOLOGIES INC on November 12, 2019 and sell it today you would lose (0.03)  from holding INGEN TECHNOLOGIES INC or give up 75.0% of portfolio value over 30 days.

Pair Corralation between INGEN TECHNOLOGIES and Facebook

-0.51
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for INGEN TECHNOLOGIES and Facebook

INGEN TECHNOLOGIES INC diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding INGEN TECHNOLOGIES INC and Facebook Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Facebook and INGEN TECHNOLOGIES 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 INGEN TECHNOLOGIES INC 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 INGEN TECHNOLOGIES i.e. INGEN TECHNOLOGIES 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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