We consider a double quantum dot coupled to two normal leads and one superconducting lead, modeling the Cooper pair beam splitter studied in two recent experiments. Starting from a microscopic Hamiltonian we derive a general expression for the branching current and the noise crossed correlations in terms of single and two-particle Greens function of the dot electrons. We then study numerically how these quantities depend on the energy configuration of the dots and the presence of direct tunneling between them, isolating the various processes which come into play. In absence of direct tunneling, the antisymmetric case (the two levels have opposite energies with respect to the superconducting chemical potential) optimizes the Crossed Andreev Reflection (CAR) process while the symmetric case (the two levels have the same energies) favors the Elastic Cotunneling (EC) process. Switching on the direct tunneling tends to suppress the CAR process, leading to negative noise crossed correlations over the whole voltage range for large enough direct tunneling.
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