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Benchmark  United States  NYSE  10,947   35.499 Index Moved Down -0.32%  


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Collecting data for YHOO and VMW ...

Correlation analysis between Yahoo and VMware

   
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   
 
Change Benchmark  Embed  Timeline 
Given the investment horizon of 30 days, Yahoo is expected to generate 1.18 times less return on investment than VMware. But when comparing it to its historical volatility, Yahoo Inc is 1.01 times less risky than VMware. It trades about 0.17 of its potential returns per unit of risk. VMware Inc is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  9,661  in VMware Inc on July 24, 2014 and sell it today you would earn a total of  563  from holding VMware Inc or generate 5.83% return on investment over 30 days.

Correlation Coefficient

0.68
Parameters
Time Period1 Month [change]
DirectionPositive VMW Moved Up vs YHOO
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor 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
Investing ideals could easily outperform a given market if properly optimized
  
VMware Report  
  
Yahoo Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
YHOO   VMW   

Yahoo Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Yahoo Inc are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Yahoo

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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

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