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 generate 1.72 times more return on investment than SP 500. However, Apple Inc is 1.72 times more volatile than S&P 500. It trades about -0.04 of its potential returns per unit of risk. S&P 500 is currently generating about -0.1 per unit of risk. If you would invest  9,645  in Apple Inc on January 7, 2016 and sell it today you would lose (243.00) from holding Apple Inc or give up 2.52% of portfolio value over 30 days.

Correlation Coefficient



Time Period1 Month [change]
ValuesDaily Returns


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

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