Benchmark  United States  NYSE  10,841   0.6768  -0.0062% 


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Correlation analysis between Yahoo and VMware

    
  
Summary
Performance
FundamentalsTechnicalsRecomendation
   Valuation
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Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between Yahoo Inc and VMware Inc. You can compare the effects of market volatilities on Yahoo and VMware 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 Yahoo with a short position of VMware. Please also check ongoing floating volatility patterns of Yahoo and VMware.
 Yahoo! Inc.  vs   VMware Inc.
Daily Returns (%)
YHOO   VMW   
Benchmark  Embed   Timeline 
Given the investment horizon of 30 days, Yahoo Inc is expected to under-perform the VMware. In addition to that, Yahoo is 1.01 times more volatile than VMware Inc. It trades about -0.14 of its total potential returns per unit of risk. VMware Inc is currently generating about 0.33 per unit of volatility. If you would invest  8,306  in VMware Inc on July 5, 2015 and sell it today you would earn a total of  801  from holding VMware Inc or generate 9.64% return on investment over 30 days.

Correlation Coefficient

0.23

Parameters

Time Period1 Month [change]
DirectionPositive VMW Moved Up vs YHOO
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents amount of risk that can be diversified away by holding Yahoo! Inc. and VMware Inc. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Yahoo Inc

  

Risk-adjusted Performance

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

Pair trading matchups for Yahoo

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VMware Inc

  

Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in VMware Inc are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for VMware

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