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Correlation analysis between Apple and SP 500

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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. Please also check ongoing floating volatility patterns of Apple and SP 500.

Apple Inc. vs S&P 500

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Daily Returns (%)

GSPC

AAPL

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Timeline

Given investment horizon of 30 days, Apple is expected to generate 1.57 times less return on investment than SP 500. In addition to that, Apple is 1.93 times more volatile than S&P 500. It trades about 0.18 of its total potential returns per unit of risk. S&P 500 is currently generating about 0.55 per unit of volatility. If you would invest 177,343 in S&P 500 on February 5, 2014 and sell it today you would earn a total of 10,360 from holding S&P 500 or generate 5.84% return on investment over 30 days.

Diversification

Average 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

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Correlation Coefficient

0.17

Parameters

Time Period	1 Month [change]
Direction	Positive
Strength	Insignificant
Accuracy	85.71%
Values	Daily Returns

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Returns:

GSPC

AAPL

Apple Inc

Alpha

Profile

Compared with the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

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