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Correlation analysis between S A P and VMware

 
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Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between SAP AG and VMware Inc. You can compare the effects of market volatilities on S A P and VMware 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 VMware.
 
 SAP AG  vs   VMware Inc.
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Daily Returns (%)
SAP   VMW   
 
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Considering 30-days investment horizon, SAP AG is expected to generate 0.54 times more return on investment than VMware. However, SAP AG is 1.86 times less risky than VMware. It trades about 0.1 of its potential returns per unit of risk. VMware Inc is currently generating about -0.06 per unit of risk. If you would invest  7,870  in SAP AG on March 24, 2014 and sell it today you would earn a total of  102.00  from holding SAP AG or generate 1.3% return on investment over 30 days.

Diversification

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

Correlation Coefficient

0.29
Parameters
Time Period1 Month [change]
DirectionPositive VMW Moved Up vs SAP
StrengthVery Weak
Accuracy95.24%
ValuesDaily Returns
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Predicted Return Density
 
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Returns:   
SAP   VMW   

SAP AG

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

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VMware Inc

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

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