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Correlation analysis between HCP Inc and VMware

 
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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. Please also check ongoing floating volatility patterns of HCP Inc and VMware.
 
 HCP Inc.  vs   VMware Inc.
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Daily Returns (%)
HCP   VMW   
 
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Considering 30-days investment horizon, HCP Inc is expected to generate 0.51 times more return on investment than VMware. However, HCP Inc is 1.96 times less risky than VMware. It trades about 0.48 of its potential returns per unit of risk. VMware Inc is currently generating about -0.12 per unit of risk. If you would invest  3,624  in HCP Inc on March 19, 2014 and sell it today you would earn a total of  429.00  from holding HCP Inc or generate 11.84% return on investment over 30 days.

Diversification

Weak 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

Correlation Coefficient

0.37
Parameters
Time Period1 Month [change]
DirectionPositive VMW Moved Up vs HCP
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns
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Predicted Return Density
 
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Returns:   
HCP   VMW   

HCP Inc

 
    
Compared with the overall equity markets, risk-adjusted returns on investments in HCP Inc are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.
    

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VMware Inc

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

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