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Benchmark  United States  NYSE  11,051   51.602 Index Moved Down -0.46%  


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Collecting data for EXPE and VMW ...

Correlation analysis between Expedia and VMware Correlation analysis between Expedia and VMware

Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between Expedia Inc and VMware Inc. You can compare the effects of market volatilities on Expedia and VMware 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 VMware. Please also check ongoing floating volatility patterns of Expedia and VMware.
 Expedia Inc.  vs   VMware Inc.
Daily Returns (%)
VMW   EXPE   
 
Benchmark  Embed   Timeline 
Given the investment horizon of 30 days, Expedia is expected to generate 1.01 times less return on investment than VMware. In addition to that, Expedia is 3.13 times more volatile than VMware Inc. It trades about 0.08 of its total potential returns per unit of risk. VMware Inc is currently generating about 0.27 per unit of volatility. If you would invest  7,922  in VMware Inc on February 2, 2015 and sell it today you would earn a total of  675  from holding VMware Inc or generate 8.52% return on investment over 30 days.

Correlation Coefficient

-0.19

Parameters

Time Period1 Month [change]
DirectionNegative EXPE Moved Down vs VMW
StrengthInsignificant
Accuracy86.36%
ValuesDaily Returns

Diversification

Good diversification

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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
 
Benchmark  Embed   Returns 

Expedia Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Expedia Inc are ranked lower than 5 (%) 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
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
ASIAN HOTELS LTD vs. Expedia Inc
  

VMware Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

Infosys Ltd vs. VMware Inc
Autodesk Inc vs. VMware Inc
PTC Inc vs. VMware Inc
National Instruments Corporation vs. VMware Inc
Tyler Technologies Inc vs. VMware Inc
Mentor Graphics Corp vs. VMware Inc
ACI Worldwide Inc vs. VMware Inc
ScanSource Inc vs. VMware Inc
Varonis Systems Inc vs. VMware Inc


 

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