Correlation Analysis Between Xunlei and Alphabet

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
Compare Efficiency

Comparative Performance

Xunlei Limited  

Risk-Adjusted Performance

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.

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Alphabet are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, Alphabet exhibited solid returns over the last few months and may actually be approaching a breakup point.

Xunlei and Alphabet Volatility Contrast

 Predicted Return Density 

Xunlei Limited  vs.  Alphabet Inc

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Xunlei Limited is expected to under-perform the Alphabet. In addition to that, Xunlei is 4.76 times more volatile than Alphabet. It trades about 0.0 of its total potential returns per unit of risk. Alphabet is currently generating about 0.23 per unit of volatility. If you would invest  111,380  in Alphabet on March 22, 2019 and sell it today you would earn a total of  12,257  from holding Alphabet or generate 11.0% return on investment over 30 days.

Pair Corralation between Xunlei and Alphabet

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Xunlei and Alphabet

Xunlei Limited diversification synergy

Average diversification

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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.