Correlation Analysis Between Amdocs and Microsoft

This module allows you to analyze existing cross correlation between Amdocs Limited and Microsoft Corporation. You can compare the effects of market volatilities on Amdocs 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 Amdocs with a short position of Microsoft. See also your portfolio center. Please also check ongoing floating volatility patterns of Amdocs and Microsoft.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Amdocs Limited  vs.  Microsoft Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Amdocs Limited is expected to generate 0.84 times more return on investment than Microsoft. However, Amdocs Limited is 1.19 times less risky than Microsoft. It trades about 0.21 of its potential returns per unit of risk. Microsoft Corporation is currently generating about 0.12 per unit of risk. If you would invest  6,688  in Amdocs Limited on May 25, 2018 and sell it today you would earn a total of  202.00  from holding Amdocs Limited or generate 3.02% return on investment over 30 days.

Pair Corralation between Amdocs and Microsoft

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Amdocs Limited and Microsoft Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Microsoft and Amdocs is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Amdocs Limited are associated (or correlated) with Microsoft. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Microsoft has no effect on the direction of Amdocs i.e. Amdocs and Microsoft go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Amdocs Limited  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Amdocs Limited are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
Microsoft  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Microsoft Corporation are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1157.66

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