Pair Correlation Between Microsoft and Expedia

This module allows you to analyze existing cross correlation between Microsoft Corporation and Expedia. You can compare the effects of market volatilities on Microsoft and Expedia 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 Expedia. See also your portfolio center. Please also check ongoing floating volatility patterns of Microsoft and Expedia.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Microsoft Corp.  vs.  Expedia Inc

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  10,461  in Expedia on March 24, 2018 and sell it today you would earn a total of  516.00  from holding Expedia or generate 4.93% return on investment over 30 days.

Pair Corralation between Microsoft and Expedia

0.0
Time Period2 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.38%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Microsoft Corp. and Expedia Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Expedia 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 Expedia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Expedia has no effect on the direction of Microsoft i.e. Microsoft and Expedia go up and down completely randomly.

Comparative Volatility

Microsoft  
0 

Risk-Adjusted Performance

Over the last 30 days Microsoft Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Expedia  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Expedia are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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WEN - USA Stock
The Wendys Company
Fama & French Restaurants Hotels Motels
Restaurants Hotels Motels
Fama & French Classification
RegionNorth America
ExchangeNASDAQ
$17.15

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