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Benchmark  United States  NYSE  10,985   62.998 Index Moved Down -0.57%  


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Correlation analysis between VMware and Google Correlation analysis between VMware and Google

   
Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between VMware Inc and Google Inc. You can compare the effects of market volatilities on VMware 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 VMware with a short position of Google. Please also check ongoing floating volatility patterns of VMware and Google.
 
 VMware Inc.  vs   Google Inc.
Daily Returns (%)
VMW   GOOG   
 
Change Benchmark  Embed   Timeline 
Considering 30-days investment horizon, VMware Inc is expected to generate 1.83 times more return on investment than Google. However, VMware is 1.83 times more volatile than Google Inc. It trades about 0.19 of its potential returns per unit of risk. Google Inc is currently generating about -0.1 per unit of risk. If you would invest  8,381  in VMware Inc on October 29, 2014 and sell it today you would earn a total of  444.47  from holding VMware Inc or generate 5.3% return on investment over 30 days.

Correlation Coefficient

0.05
Parameters
Time Period1 Month [change]
DirectionPositive GOOG Moved Up vs VMW
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification
Overlapping area represents amount of risk that can be diversified away by holding VMware Inc. and Google Inc. in the same portfolio assuming nothing else is changed
Investing ideals could easily outperform a given market if properly optimized
Get Google Inc research report. Reports are available in pdf format. Click Google Report to view
  
Google Report  
Get VMware Inc research report. Reports are available in pdf format. Click VMware Report to view
  
VMware Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

VMware Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

PTC Inc vs. VMware Inc
  

Google Inc

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

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