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Benchmark  United States  NYSE  11,025   20.008 Index Moved Up 0.18%  


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Collecting data for SAP and GOOG ...

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   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, SAP AG is expected to generate 0.87 times more return on investment than Google. However, SAP AG is 1.15 times less risky than Google. It trades about -0.1 of its potential returns per unit of risk. Google Inc is currently generating about -0.09 per unit of risk. If you would invest  8,048  in SAP AG on July 28, 2014 and sell it today you would lose (167.00) from holding SAP AG or give up 2.08% of portfolio value over 30 days.

Correlation Coefficient

0.51
Parameters
Time Period1 Month [change]
DirectionPositive GOOG Moved Up vs SAP
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak 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
Investing ideals could easily outperform a given market if properly optimized
  
Google Report  
  
S A P Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
SAP   GOOG   

SAP AG

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

Pair trading matchups for S A P

Oracle Corporation vs. SAP AG
Adobe Systems Inc vs. SAP AG
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Google Inc

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

Pair trading matchups for Google

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