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Benchmark  United States  NYSE  11,005   46.541 Index Moved Down -0.42%  


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Correlation analysis between VMware and Salesforce Correlation analysis between VMware and Salesforce

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. You can also utilize pair trading strategies of matching a long position in VMware with a short position of Salesforce. Please also check ongoing floating volatility patterns of VMware and Salesforce.
 VMware Inc.  vs   Salesforce.com Inc
Daily Returns (%)
VMW   CRM   
 
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, VMware is expected to generate 1.71 times less return on investment than Salesforce. But when comparing it to its historical volatility, VMware Inc is 2.3 times less risky than Salesforce. It trades about 0.24 of its potential returns per unit of risk. Salesforce Inc is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  5,861  in Salesforce Inc on February 3, 2015 and sell it today you would earn a total of  627  from holding Salesforce Inc or generate 10.7% return on investment over 30 days.

Correlation Coefficient

-0.47

Parameters

Time Period1 Month [change]
DirectionNegative VMW Moved Down vs CRM
StrengthVery Weak
Accuracy86.36%
ValuesDaily Returns

Diversification

Very good 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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
 
Benchmark  Embed   Returns 

VMware Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

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Salesforce Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Salesforce Inc are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Salesforce

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