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Benchmark  United States  NYSE  10,930   6.91 Index Moved Down -0.06%  


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Collecting data for VMW and GOOG ...

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 1.09 times more return on investment than Google. However, VMware is 1.09 times more volatile than Google Inc. It trades about 0.06 of its potential returns per unit of risk. Google Inc is currently generating about -0.22 per unit of risk. If you would invest  9,681  in VMware Inc on June 30, 2014 and sell it today you would earn a total of  180.00  from holding VMware Inc or generate 1.86% return on investment over 30 days.

Diversification

Average 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

Correlation Coefficient

0.12
Parameters
Time Period1 Month [change]
DirectionPositive GOOG Moved Up vs VMW
StrengthInsignificant
Accuracy19.05%
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
VMW   GOOG   

VMware Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

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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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