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Benchmark  United States  NYSE  10,986   52.756 Index Moved Down -0.48%  

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 (%)
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, SAP AG is expected to generate 0.75 times more return on investment than Google. However, SAP AG is 1.34 times less risky than Google. It trades about 0.31 of its potential returns per unit of risk. Google Inc is currently generating about 0.11 per unit of risk. If you would invest  7,715  in SAP AG on June 25, 2014 and sell it today you would earn a total of  465.00  from holding SAP AG or generate 6.03% return on investment over 30 days.


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

Correlation Coefficient

Time Period1 Month [change]
DirectionPositive GOOG Moved Up vs SAP
StrengthVery Weak
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density


Compared with the overall equity markets, risk-adjusted returns on investments in SAP AG are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for S A P

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Google Inc

Compared with the overall equity markets, risk-adjusted returns on investments in Google Inc are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

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