Correlation Analysis Between Intuit and Microsoft

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

Comparative Performance

Intuit  
0

Risk-Adjusted Performance

Over the last 30 days Intuit has generated negative risk-adjusted returns adding no value to investors with long positions.
Microsoft  
0

Risk-Adjusted Performance

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

Intuit and Microsoft Volatility Contrast

 Predicted Return Density 
      Returns 

Intuit  vs.  Microsoft Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Intuit is expected to under-perform the Microsoft. In addition to that, Intuit is 1.04 times more volatile than Microsoft Corporation. It trades about -0.05 of its total potential returns per unit of risk. Microsoft Corporation is currently generating about -0.04 per unit of volatility. If you would invest  11,100  in Microsoft Corporation on November 15, 2018 and sell it today you would lose (497.00)  from holding Microsoft Corporation or give up 4.48% of portfolio value over 30 days.

Pair Corralation between Intuit and Microsoft

0.17
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Intuit and Microsoft

Intuit diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Intuit and Microsoft Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Microsoft and Intuit 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 Intuit 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 Intuit i.e. Intuit and Microsoft go up and down completely randomly.

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See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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