Correlation Analysis Between DOW and Apple

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

DOW  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 1.88 times more return on investment than Apple. However, DOW is 1.88 times more volatile than Apple. It trades about 0.01 of its potential returns per unit of risk. Apple is currently generating about -0.06 per unit of risk. If you would invest  2,470,021  in DOW on May 21, 2018 and sell it today you would earn a total of  28,726  from holding DOW or generate 1.16% return on investment over 30 days.

Pair Corralation between DOW and Apple

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.82%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding DOW and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and DOW 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 DOW are associated (or correlated) with Apple. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apple has no effect on the direction of DOW i.e. DOW and Apple go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
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