Benchmark  United States  NYSE  11,143   78.0439  0.7053% 


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Collecting data for HCP and VMW ...

Correlation analysis between HCP Inc and VMware  

    
Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between HCP Inc and VMware Inc. You can compare the effects of market volatilities on HCP Inc 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 HCP Inc with a short position of VMware. Please also check ongoing floating volatility patterns of HCP Inc and VMware.
 HCP Inc.  vs   VMware Inc.
Daily Returns (%)
HCP   VMW   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, HCP Inc is expected to under-perform the VMware. In addition to that, HCP Inc is 1.38 times more volatile than VMware Inc. It trades about -0.28 of its total potential returns per unit of risk. VMware Inc is currently generating about -0.14 per unit of volatility. If you would invest  8,899  in VMware Inc on April 27, 2015 and sell it today you would lose (245.00) from holding VMware Inc or give up 2.75% of portfolio value over 30 days.

Correlation Coefficient

0.07

Parameters

Time Period1 Month [change]
DirectionPositive VMW Moved Up vs HCP
StrengthInsignificant
Accuracy90.91%
ValuesDaily Returns

Diversification

Significant diversification

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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

HCP Inc

  

Risk-adjusted Performance

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

Pair trading matchups for HCP Inc

Health Care REIT Inc vs. HCP Inc
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The GEO Group Inc vs. HCP Inc
Healthcare Realty Trust Incorporated vs. HCP Inc
  

VMware Inc

  

Risk-adjusted Performance

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

Pair trading matchups for VMware

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