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Benchmark  United States  NYSE  10,726   203.363 Index Moved Down -1.86%  


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Collecting data for MSFT and EXPE ...

Correlation analysis between Microsoft and Expedia

   
Investment horizon:  
  30 Days    Login   to change
  
 
This module allows you to analyze existing cross correlation between Microsoft Corporation and Expedia Inc. 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. Please also check ongoing floating volatility patterns of Microsoft and Expedia.
 
 Microsoft Corp.  vs   Expedia Inc.
Daily Returns (%)
EXPE   MSFT   
 
Change Benchmark  Embed  Timeline 
Given the investment horizon of 30 days, Microsoft Corporation is expected to generate 0.68 times more return on investment than Expedia. However, Microsoft Corporation is 1.48 times less risky than Expedia. It trades about 0.14 of its potential returns per unit of risk. Expedia Inc is currently generating about -0.03 per unit of risk. If you would invest  4,190  in Microsoft Corporation on July 2, 2014 and sell it today you would earn a total of  126.00  from holding Microsoft Corporation or generate 3.01% return on investment over 30 days.

Diversification

Good diversification
Overlapping area represents amount of risk that can be diversified away by holding Microsoft Corp. and Expedia Inc. in the same portfolio assuming nothing else is changed

Correlation Coefficient

-0.16
Parameters
Time Period1 Month [change]
DirectionNegative MSFT Moved Down vs EXPE
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
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Returns:   
EXPE   MSFT   

Microsoft

  
Compared with the overall equity markets, risk-adjusted returns on investments in Microsoft Corporation are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Microsoft

Automatic Data Processing Inc vs. Microsoft Corporation
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Amdocs Limited vs. Microsoft Corporation
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Jack Henry Associates Inc vs. Microsoft Corporation
  

Expedia Inc

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

Pair trading matchups for Expedia

Hilton Worldwide Holdings Inc vs. Expedia Inc
Marriott International Inc vs. Expedia Inc
Starwood Hotels Resorts Worldwide Inc vs. Expedia Inc
Intercontinental Hotels Group plc vs. Expedia Inc
Wyndham Worldwide Corporation vs. Expedia Inc
Ctrip International Ltd vs. Expedia Inc
Extended Stay America Inc vs. Expedia Inc
Choice Hotels International Inc vs. Expedia Inc
Home Inns Hotels Management Inc vs. Expedia Inc


 
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