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Benchmark  United States  NYSE  11,029   12.935 Index Moved Up 0.12%  


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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   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, HCP Inc is expected to generate 0.34 times more return on investment than VMware. However, HCP Inc is 2.96 times less risky than VMware. It trades about 0.2 of its potential returns per unit of risk. VMware Inc is currently generating about 0.06 per unit of risk. If you would invest  4,119  in HCP Inc on June 23, 2014 and sell it today you would earn a total of  98.00  from holding HCP Inc or generate 2.38% return on investment over 30 days.

Diversification

Average 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

0.11
Parameters
Time Period1 Month [change]
DirectionPositive VMW Moved Up vs HCP
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
HCP   VMW   

HCP Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in HCP Inc are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for HCP Inc

Omega Healthcare Investors Inc vs. HCP Inc
Healthcare Trust of America Inc vs. HCP Inc
  

VMware Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

Concur Technologies Inc vs. VMware Inc


 
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