Correlation Analysis Between Expedia and S A P

This module allows you to analyze existing cross correlation between Expedia and SAP SE. 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. See also your portfolio center. Please also check ongoing floating volatility patterns of Expedia and S A P.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Expedia Inc  vs.  SAP SE

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Expedia is expected to generate 1.1 times more return on investment than S A P. However, Expedia is 1.1 times more volatile than SAP SE. It trades about 0.28 of its potential returns per unit of risk. SAP SE is currently generating about 0.19 per unit of risk. If you would invest  11,636  in Expedia on May 21, 2018 and sell it today you would earn a total of  831.00  from holding Expedia or generate 7.14% return on investment over 30 days.

Pair Corralation between Expedia and S A P

0.84
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy95.45%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Expedia Inc and SAP SE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SAP SE and Expedia 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 Expedia are associated (or correlated) with S A P. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SAP SE has no effect on the direction of Expedia i.e. Expedia and S A P go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Expedia  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Expedia are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
SAP SE  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in SAP SE are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1179.29

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See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.