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Benchmark  United States  NYSE  10,547   34.932 Index Moved Down -0.33%  


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Correlation analysis between S A P and Google

 
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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. Please also check ongoing floating volatility patterns of S A P and Google.
 
 SAP AG  vs   Google Inc.
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Daily Returns (%)
SAP   GOOG   
 
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Considering 30-days investment horizon, SAP AG is expected to generate 0.1 times more return on investment than Google. However, SAP AG is 9.53 times less risky than Google. It trades about 0.05 of its potential returns per unit of risk. Google Inc is currently generating about -0.25 per unit of risk. If you would invest  7,933  in SAP AG on March 25, 2014 and sell it today you would earn a total of  23.00  from holding SAP AG or generate 0.29% return on investment over 30 days.

Diversification

Average 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

Correlation Coefficient

0.19
Parameters
Time Period1 Month [change]
DirectionPositive GOOG Moved Up vs SAP
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns
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Predicted Return Density
 
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Returns:   
SAP   GOOG   

SAP AG

 
    
Compared with the overall equity markets, risk-adjusted returns on investments in SAP AG are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
    

Match-ups for S A P

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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.
    

Match-ups for Google

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