Benchmark  United States  NYSE  11,198   41.9775  -0.3735% 


Processing
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   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, VMware Inc is expected to generate 0.87 times more return on investment than Google. However, VMware Inc is 1.15 times less risky than Google. It trades about -0.07 of its potential returns per unit of risk. Google Inc is currently generating about -0.13 per unit of risk. If you would invest  8,899  in VMware Inc on April 25, 2015 and sell it today you would lose (127.00) from holding VMware Inc or give up 1.43% of portfolio value over 30 days.

Correlation Coefficient

-0.22

Parameters

Time Period1 Month [change]
DirectionNegative VMW Moved Down vs GOOG
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns

Diversification

Very good 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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

VMware Inc

  

Risk-adjusted Performance

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

Pair trading matchups for VMware

Infosys Ltd vs. VMware Inc
Autodesk Inc vs. VMware Inc
PTC Inc vs. VMware Inc
Tyler Technologies Inc vs. VMware Inc
National Instruments Corporation vs. VMware Inc
Mentor Graphics Corp vs. VMware Inc
ACI Worldwide Inc vs. VMware Inc
ScanSource Inc vs. VMware Inc
EMIS GRP vs. VMware Inc
  

Google Inc

  

Risk-adjusted Performance

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

Pair trading matchups for Google

Facebook Inc vs. Google Inc
Baidu Inc vs. Google Inc
JD Inc ADR Repst Com Cl A vs. Google Inc
Yahoo Inc vs. Google Inc
Akamai Technologies Inc vs. Google Inc
VeriSign Inc vs. Google Inc
58 Inc vs. Google Inc
IACInterActiveCorp vs. Google Inc
Autohome Inc vs. Google Inc