Benchmark  United States  NYSE  11,198   41.9775  -0.3735% 


Processing
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   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, SAP AG is expected to generate 0.93 times more return on investment than Google. However, SAP AG is 1.07 times less risky than Google. It trades about -0.03 of its potential returns per unit of risk. Google Inc is currently generating about -0.2 per unit of risk. If you would invest  7,518  in SAP AG on April 24, 2015 and sell it today you would lose (47.00) from holding SAP AG or give up 0.63% of portfolio value over 30 days.

Correlation Coefficient

0.41

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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

SAP AG

  

Risk-adjusted Performance

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
Salesforce Inc vs. SAP AG
Adobe Systems Inc vs. SAP AG
Intuit Inc vs. SAP AG
Red Hat Inc vs. SAP AG
Mobileye NV vs. SAP AG
Bank of America Corporation vs. SAP AG
Splunk Inc vs. SAP AG
Tableau Software Inc vs. SAP AG
  

Google Inc

  

Risk-adjusted Performance

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

Facebook Inc vs. Google Inc
Baidu Inc vs. Google Inc
JD Inc ADR Repst Com Cl A vs. Google Inc
Yahoo Inc vs. Google Inc
Akamai Technologies Inc vs. Google Inc
VeriSign Inc vs. Google Inc
58 Inc vs. Google Inc
IACInterActiveCorp vs. Google Inc
Autohome Inc vs. Google Inc