Benchmark  United States  NYSE  10,882   2.1641  -0.0199% 


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Correlation analysis between Expedia and Oracle

    
  
Summary
Performance
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   Valuation
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Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between Expedia Inc and Oracle Corporation. You can compare the effects of market volatilities on Expedia and Oracle 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 Expedia with a short position of Oracle. Please also check ongoing floating volatility patterns of Expedia and Oracle.
 Expedia Inc.  vs   Oracle Corp.
Daily Returns (%)
EXPE   ORCL   
Benchmark  Embed   Timeline 
Given the investment horizon of 30 days, Expedia Inc is expected to generate 1.95 times more return on investment than Oracle. However, Expedia is 1.95 times more volatile than Oracle Corporation. It trades about 0.02 of its potential returns per unit of risk. Oracle Corporation is currently generating about -0.07 per unit of risk. If you would invest  10,719  in Expedia Inc on July 1, 2015 and sell it today you would earn a total of  42.00  from holding Expedia Inc or generate 0.39% return on investment over 30 days.

Correlation Coefficient

0.41

Parameters

Time Period1 Month [change]
DirectionPositive ORCL Moved Up vs EXPE
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents amount of risk that can be diversified away by holding Expedia Inc. and Oracle Corp. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Expedia Inc

  

Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Expedia Inc are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Expedia

Hilton Worldwide Holdings Inc vs. Expedia Inc
Marriott International Inc vs. Expedia Inc
Starwood Hotels Resorts Worldwide Inc vs. Expedia Inc
Ctrip International Ltd vs. Expedia Inc
Wyndham Worldwide Corporation vs. Expedia Inc
Intercontinental Hotels Group plc vs. Expedia Inc
Extended Stay America Inc vs. Expedia Inc
Choice Hotels International Inc vs. Expedia Inc
ASIAN HOTELS LTD vs. Expedia Inc
  

Oracle

  

Risk-adjusted Performance

Over the last 30 days Oracle Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.

Pair trading matchups for Oracle

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Adobe Systems Inc vs. Oracle Corporation
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Red Hat Inc vs. Oracle Corporation
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Splunk Inc vs. Oracle Corporation
Tableau Software Inc vs. Oracle Corporation
Bank of America Corporation vs. Oracle Corporation