Pair Correlation Between Apple Inc and SP 500

Investment Horizon     30 Days    Login   to change
This module allows you to analyze existing cross correlation between Apple Inc and S&P 500. You can compare the effects of market volatilities on Apple Inc and SP 500 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 Apple Inc with a short position of SP 500. Please also check ongoing floating volatility patterns of Apple Inc and SP 500.
 Apple Inc.  vs   S&P 500
Daily Returns (%)
Benchmark  Embed   Timeline 
Given the investment horizon of 30 days, Apple Inc is expected to under-perform the SP 500. In addition to that, Apple Inc is 27.49 times more volatile than S&P 500. It trades about -0.2 of its total potential returns per unit of risk. S&P 500 is currently generating about 0.06 per unit of volatility. If you would invest  207,118  in S&P 500 on October 26, 2015 and sell it today you would earn a total of  1,796  from holding S&P 500 or generate 0.87% return on investment over 30 days.

Correlation Coefficient



Time Period1 Month [change]
ValuesDaily Returns


Significant diversification

Overlapping area represents amount of risk that can be diversified away by holding Apple Inc. and S&P 500 in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Apple Inc


Risk-adjusted Performance

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

Pair trading matchups for Apple Inc


S&P 500


Pair trading matchups for SP 500