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Benchmark  United States  NYSE  10,886   3.752 Index Moved Down -0.03%  


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Collecting data for AAPL and ^GSPC ...

Correlation analysis between Apple and SP 500 Correlation analysis between Apple 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 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 with a short position of SP 500. Please also check ongoing floating volatility patterns of Apple and SP 500.
 Apple Inc.  vs   S&P 500
Daily Returns (%)
GSPC   AAPL   
 
Change 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 is 1.6 times more volatile than S&P 500. It trades about -0.16 of its total potential returns per unit of risk. S&P 500 is currently generating about 0.01 per unit of volatility. If you would invest  206,941  in S&P 500 on November 22, 2014 and sell it today you would earn a total of  335.00  from holding S&P 500 or generate 0.16% return on investment over 30 days.

Correlation Coefficient

0.82
Parameters
Time Period1 Month [change]
DirectionPositive ^GSPC Moved Up vs AAPL
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor 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
    Optimize
Investing ideals could easily outperform a given market if properly optimized
Get S&P 500 research report. Reports are available in pdf format. Click SP 500 Report to view
  
SP 500 Report  
Get Apple Inc research report. Reports are available in pdf format. Click Apple Report to view
  
Apple Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

Apple Inc

  
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

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S&P 500

  

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