Correlation Analysis Between Microsoft and Agilent Technologies

This module allows you to analyze existing cross correlation between Microsoft Corporation and Agilent Technologies. You can compare the effects of market volatilities on Microsoft and Agilent Technologies 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 Microsoft with a short position of Agilent Technologies. See also your portfolio center. Please also check ongoing floating volatility patterns of Microsoft and Agilent Technologies.
Horizon     30 Days    Login   to change
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Comparative Performance


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Microsoft Corporation are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively unchanging essential indicators, Microsoft is not utilizing all of its potentials. The continuing stock price uproar, may contribute to short horizon losses for the leadership.
Agilent Technologies  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Agilent Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite somewhat conflicting basic indicators, Agilent Technologies may actually be approaching a critical reversion point that can send shares even higher in November 2019.

Microsoft and Agilent Technologies Volatility Contrast

 Predicted Return Density 

Microsoft Corp.  vs.  Agilent Technologies Inc

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Microsoft is expected to generate 2.64 times less return on investment than Agilent Technologies. But when comparing it to its historical volatility, Microsoft Corporation is 1.28 times less risky than Agilent Technologies. It trades about 0.04 of its potential returns per unit of risk. Agilent Technologies is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  6,995  in Agilent Technologies on September 14, 2019 and sell it today you would earn a total of  573.00  from holding Agilent Technologies or generate 8.19% return on investment over 30 days.

Pair Corralation between Microsoft and Agilent Technologies

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for Microsoft and Agilent Technologies

Microsoft Corp. diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Microsoft Corp. and Agilent Technologies Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Agilent Technologies and Microsoft is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Microsoft Corporation are associated (or correlated) with Agilent Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agilent Technologies has no effect on the direction of Microsoft i.e. Microsoft and Agilent Technologies go up and down completely randomly.
See also your portfolio center. Please also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.