This module allows you to analyze existing cross correlation between Xunlei Limited and Alphabet. You can compare the effects of market volatilities on Xunlei and Alphabet 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 Xunlei with a short position of Alphabet. See also your portfolio center. Please also check ongoing floating volatility patterns of Xunlei and Alphabet.
|Horizon||30 Days Login to change|
Over the last 30 days Xunlei Limited has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Xunlei is not utilizing all of its potentials. The current stock price uproar, may contribute to short-term losses for the leadership.
Over the last 30 days Alphabet has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Alphabet is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
Xunlei and Alphabet Volatility Contrast
Xunlei Limited vs. Alphabet Inc
If you would invest (100.00) in Alphabet on May 20, 2019 and sell it today you would earn a total of 100.00 from holding Alphabet or generate -100.0% return on investment over 30 days.
Pair Corralation between Xunlei and Alphabet
|Time Period||2 Months [change]|
Diversification Opportunities for Xunlei and Alphabet
Overlapping area represents the amount of risk that can be diversified away by holding Xunlei Limited and Alphabet Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Alphabet and Xunlei 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 Xunlei Limited are associated (or correlated) with Alphabet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alphabet has no effect on the direction of Xunlei i.e. Xunlei and Alphabet go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.