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Benchmark  United States  NYSE  10,890   58.62 Index Moved Up 0.54%  


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Correlation analysis between Microsoft and Expedia 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 under-perform the Expedia. In addition to that, Microsoft is 1.18 times more volatile than Expedia Inc. It trades about -0.02 of its total potential returns per unit of risk. Expedia Inc is currently generating about 0.16 per unit of volatility. If you would invest  8,469  in Expedia Inc on November 21, 2014 and sell it today you would earn a total of  337.00  from holding Expedia Inc or generate 3.98% return on investment over 30 days.

Correlation Coefficient

0.38
Parameters
Time Period1 Month [change]
DirectionPositive EXPE Moved Up vs MSFT
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak 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
Investing ideals could easily outperform a given market if properly optimized
Get Expedia Inc research report. Reports are available in pdf format. Click Expedia Report to view
  
Expedia Report  
Get Microsoft Corporation research report. Reports are available in pdf format. Click Microsoft Report to view
  
Microsoft Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

Microsoft

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

Pair trading matchups for Microsoft

Automatic Data Processing Inc vs. Microsoft Corporation
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SSC Technologies Holdings Inc vs. Microsoft Corporation
  

Expedia Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Expedia Inc are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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
Wyndham Worldwide Corporation vs. Expedia Inc
Intercontinental Hotels Group plc vs. Expedia Inc
Ctrip International Ltd vs. Expedia Inc
Extended Stay America Inc vs. Expedia Inc
Choice Hotels International Inc vs. Expedia Inc


 

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