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Benchmark  United States  NYSE  10,599   39.667 Index Moved Up 0.38%  


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Correlation analysis between VMware and Salesforce

 
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Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between VMware Inc and Salesforce Inc. You can compare the effects of market volatilities on VMware and Salesforce 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 VMware and Salesforce.
 
 VMware Inc.  vs   Salesforce.com Inc
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Daily Returns (%)
VMW   CRM   
 
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Considering 30-days investment horizon, VMware Inc is expected to under-perform the Salesforce. But the stock apears to be less risky and, when comparing its historical volatility, VMware Inc is 1.02 times less risky than Salesforce. The stock trades about -0.07 of its potential returns per unit of risk. The Salesforce Inc is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  5,665  in Salesforce Inc on March 24, 2014 and sell it today you would earn a total of  43.00  from holding Salesforce Inc or generate 0.76% return on investment over 30 days.

Diversification

Very poor diversification
Overlapping area represents amount of risk that can be diversified away by holding VMware Inc. and Salesforce.com Inc in the same portfolio assuming nothing else is changed

Correlation Coefficient

0.81
Parameters
Time Period1 Month [change]
DirectionPositive CRM Moved Up vs VMW
StrengthStrong
Accuracy95.24%
ValuesDaily Returns
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Predicted Return Density
 
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Returns:   
VMW   CRM   

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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Salesforce Inc

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

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