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Benchmark  United States  NYSE  10,583   63.331 Index Moved Up 0.6%  


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Collecting data for EXPE and SAP ...

Correlation analysis between Expedia and S A P

   
Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between Expedia Inc and SAP AG. You can compare the effects of market volatilities on Expedia and S A P 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 S A P. Please also check ongoing floating volatility patterns of Expedia and S A P.
 
 Expedia Inc.  vs   SAP AG
Daily Returns (%)
SAP   EXPE   
 
Change Benchmark  Embed   Timeline 
Given the investment horizon of 30 days, Expedia Inc is expected to generate 1.31 times more return on investment than S A P. However, Expedia is 1.31 times more volatile than SAP AG. It trades about -0.09 of its potential returns per unit of risk. SAP AG is currently generating about -0.27 per unit of risk. If you would invest  8,594  in Expedia Inc on September 24, 2014 and sell it today you would lose (441.00) from holding Expedia Inc or give up 5.13% of portfolio value over 30 days.

Correlation Coefficient

-0.03
Parameters
Time Period1 Month [change]
DirectionNegative EXPE Moved Down vs SAP
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification
Overlapping area represents amount of risk that can be diversified away by holding Expedia Inc. and SAP AG in the same portfolio assuming nothing else is changed
Investing ideals could easily outperform a given market if properly optimized
Get SAP AG research report. Reports are available in pdf format. Click S A P Report to view
  
S A P Report  
Get Expedia Inc research report. Reports are available in pdf format. Click Expedia Report to view
  
Expedia Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

Expedia Inc

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

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
Wyndham Worldwide Corporation vs. Expedia Inc
Intercontinental Hotels Group plc vs. Expedia Inc
Ctrip International Ltd vs. Expedia Inc
Extended Stay America Inc vs. Expedia Inc
Choice Hotels International Inc vs. Expedia Inc
Civeo Corporation vs. Expedia Inc
  

SAP AG

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

Pair trading matchups for S A P

Oracle Corporation vs. SAP AG
Salesforce Inc vs. SAP AG
Adobe Systems Inc vs. SAP AG
Intuit Inc vs. SAP AG
Red Hat Inc vs. SAP AG
Ansys Inc vs. SAP AG
Open Text Corporation vs. SAP AG
Splunk Inc vs. SAP AG
MSCI Inc vs. SAP AG


 

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