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Benchmark  United States  NYSE  11,051   51.595 Index Moved Down -0.46%  


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Collecting data for VMW and MSFT ...

Correlation analysis between VMware and Microsoft Correlation analysis between VMware and Microsoft

Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between VMware Inc and Microsoft Corporation. You can compare the effects of market volatilities on VMware and Microsoft 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 Microsoft. Please also check ongoing floating volatility patterns of VMware and Microsoft.
 VMware Inc.  vs   Microsoft Corp.
Daily Returns (%)
VMW   MSFT   
 
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, VMware Inc is expected to generate 1.65 times more return on investment than Microsoft. However, VMware is 1.65 times more volatile than Microsoft Corporation. It trades about 0.28 of its potential returns per unit of risk. Microsoft Corporation is currently generating about 0.3 per unit of risk. If you would invest  7,922  in VMware Inc on February 1, 2015 and sell it today you would earn a total of  675  from holding VMware Inc or generate 8.52% return on investment over 30 days.

Correlation Coefficient

-0.11

Parameters

Time Period1 Month [change]
DirectionNegative VMW Moved Down vs MSFT
StrengthInsignificant
Accuracy85.71%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents amount of risk that can be diversified away by holding VMware Inc. and Microsoft Corp. 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 18 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

Autodesk Inc vs. VMware Inc
  

Microsoft

  
Compared with the overall equity markets, risk-adjusted returns on investments in Microsoft Corporation are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

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