Benchmark  United States  NYSE  10,882   2.1641  -0.0199% 


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Correlation analysis between Expedia and VMware

    
  
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 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 6.22 times less return on investment than VMware. In addition to that, Expedia is 1.29 times more volatile than VMware Inc. It trades about 0.02 of its total potential returns per unit of risk. VMware Inc is currently generating about 0.15 per unit of volatility. If you would invest  8,486  in VMware Inc on July 1, 2015 and sell it today you would earn a total of  365.00  from holding VMware Inc or generate 4.3% return on investment over 30 days.

Correlation Coefficient

0.39

Parameters

Time Period1 Month [change]
DirectionPositive VMW Moved Up vs EXPE
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak 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

  

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
  

VMware Inc

  

Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 9 (%) 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
National Instruments Corporation vs. VMware Inc
Mentor Graphics Corp vs. VMware Inc
ACI Worldwide Inc vs. VMware Inc
ScanSource Inc vs. VMware Inc