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Benchmark  United States  NYSE  11,063   19.31 Index Moved Down -0.17%  


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Collecting data for SAP and GOOG ...

Correlation analysis between S A P and Google Correlation analysis between S A P and Google

Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between SAP AG and Google Inc. You can compare the effects of market volatilities on S A P and Google 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 S A P with a short position of Google. Please also check ongoing floating volatility patterns of S A P and Google.
 SAP AG  vs   Google Inc.
Daily Returns (%)
SAP   GOOG   
 
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, S A P is expected to generate 1.38 times less return on investment than Google. But when comparing it to its historical volatility, SAP AG is 1.04 times less risky than Google. It trades about 0.25 of its potential returns per unit of risk. Google Inc is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest  51,066  in Google Inc on January 29, 2015 and sell it today you would earn a total of  4,774  from holding Google Inc or generate 9.35% return on investment over 30 days.

Correlation Coefficient

-0.05

Parameters

Time Period1 Month [change]
DirectionNegative SAP Moved Down vs GOOG
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents amount of risk that can be diversified away by holding SAP AG and Google Inc. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
 
Benchmark  Embed   Returns 

SAP AG

  
Compared with the overall equity markets, risk-adjusted returns on investments in SAP AG are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for S A P

Oracle Corporation vs. SAP AG
Salesforce Inc vs. SAP AG
Adobe Systems Inc vs. SAP AG
Intuit Inc vs. SAP AG
Red Hat Inc vs. SAP AG
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Bank of America Corporation vs. SAP AG
Open Text Corporation vs. SAP AG
Splunk Inc vs. SAP AG
  

Google Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Google Inc are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Google

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58 Inc vs. Google Inc


 

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