Meta Platforms Correlations

META Stock

11,575 160.71 1.37%

The current 90-days correlation between Meta Platforms and Baidu Inc is 0.06 (i.e., Significant diversification). The correlation of Meta Platforms is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Meta Platforms Correlation With Market

Very good diversification

The correlation between Meta Platforms and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meta Platforms and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Meta Platforms could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Meta Platforms when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Meta Platforms - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Meta Platforms to buy it.

Moving together with Meta Stock

0.62

AAPL

Apple Inc

Pair Corr

Moving against Meta Stock

0.67	AMAT	Applied Materials	Pair Corr
0.61	CULTIBAB	Organizacin Cultiba SAB	Pair Corr
0.59	MEGACPO	Megacable Holdings	Pair Corr
0.58	TGT	Target	Pair Corr
0.56	BURL	Burlington Stores Earnings Call Today	Pair Corr
0.55	GMEXICOB	Grupo Mxico SAB	Pair Corr
0.54	KIMBERA	Kimberly Clark de	Pair Corr
0.54	ACTINVRB	Corporacin Actinver	Pair Corr
0.53	CVX	Chevron Corp	Pair Corr
0.53	CAT	Caterpillar	Pair Corr
0.49	KOFUBL	Coca Cola FEMSA	Pair Corr
0.45	CC	Chemours	Pair Corr
0.4	COP	ConocoPhillips	Pair Corr
0.38	MEDICAB	Mdica Sur SAB	Pair Corr
0.34	MOS	Mosaic	Pair Corr
0.32	DVN	Devon Energy	Pair Corr
0.59	SMSNN	Samsung Electronics	Pair Corr
0.59	LEA	Lear	Pair Corr
0.57	FDX	FedEx	Pair Corr
0.57	DINEB	DINE SAB de	Pair Corr
0.55	FIBRAPL14	FIBRA Prologis Split	Pair Corr
0.54	ALSEA	Alsea SAB de	Pair Corr
0.5	INTC	Intel	Pair Corr
0.5	XOM	Exxon Mobil	Pair Corr
0.48	GENTERA	Gentera SAB de	Pair Corr
0.45	ENPH	Enphase Energy	Pair Corr
0.45	GE	General Electric	Pair Corr

Related Correlations Analysis

	GM	TLEVISACPO	CC	FDX	INTC	TGT	DVN	BNS	BIDUN
GM		0.15	-0.28	-0.1	-0.08	0.1	-0.44	0.63	0.38	GM
TLEVISACPO	0.15		0.32	0.31	0.28	0.36	0.26	0.35	0.45	TLEVISACPO
CC	-0.28	0.32		0.84	0.26	0.69	0.89	0.09	-0.23	CC
FDX	-0.1	0.31	0.84		0.43	0.89	0.8	0.31	-0.08	FDX
INTC	-0.08	0.28	0.26	0.43		0.54	0.24	0.11	0.55	INTC
TGT	0.1	0.36	0.69	0.89	0.54		0.61	0.5	0.19	TGT
DVN	-0.44	0.26	0.89	0.8	0.24	0.61		-0.06	-0.36	DVN
BNS	0.63	0.35	0.09	0.31	0.11	0.5	-0.06		0.44	BNS
BIDUN	0.38	0.45	-0.23	-0.08	0.55	0.19	-0.36	0.44		BIDUN
	GM	TLEVISACPO	CC	FDX	INTC	TGT	DVN	BNS	BIDUN

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DVN	+ 0.89	CC
TGT	+ 0.89	FDX
FDX	+ 0.84	CC
DVN	+ 0.8	FDX
TGT	+ 0.69	CC
BNS	+ 0.63	GM

High negative correlations

DVN	- 0.44	GM
BIDUN	- 0.36	DVN
CC	- 0.28	GM
BIDUN	- 0.23	CC
FDX	- 0.1	GM
BIDUN	- 0.08	FDX

Risk-Adjusted Indicators

There is a big difference between Meta Stock performing well and Meta Platforms Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Meta Platforms' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GM	1.39	0.06	0.01	(0.50)	1.65	(1.90)	3.39	(2.88)	10.37
TLEVISACPO	1.85	0.07	0.02	0.27	2.89	(1.74)	4.13	(4.04)	15.68
CC	1.79	0.55	0.00	0.40	0.00	0.00	3.80	0.00	61.66
FDX	1.04	0.44	0.31	(3.11)	0.00	(2.21)	2.45	(1.15)	13.79
INTC	3.20	0.33	0.08	0.30	3.85	(3.89)	10.73	(6.25)	28.12
TGT	1.43	0.42	0.22	(1.10)	1.28	(1.70)	2.92	(2.80)	7.91
DVN	1.20	0.25	0.08	(167.58)	1.56	(1.67)	4.34	(3.04)	9.27
BNS	0.42	0.10	0.00	0.48	0.00	0.00	1.01	(0.46)	8.23
BIDUN	2.14	0.05	0.00	(0.39)	2.87	(2.49)	5.40	(5.28)	20.57

Meta Platforms Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Meta Platforms stock to make a market-neutral strategy. Peer analysis of Meta Platforms could also be used in its relative valuation, which is a method of valuing Meta Platforms by comparing valuation metrics with similar companies.

General Motors Grupo Televisa SAB The Chemours FedEx Intel Target Devon Energy The Bank of Baidu Inc American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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