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Benchmark  United States  NYSE  10,599   39.667 Index Moved Up 0.38%  

Collecting data for AAPL and ^GSPC ...

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 (%)
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Given investment horizon of 30 days, Apple Inc is expected to under-perform the SP 500. In addition to that, Apple is 1.06 times more volatile than S&P 500. It trades about -0.08 of its total potential returns per unit of risk. S&P 500 is currently generating about 0.07 per unit of volatility. If you would invest  186,562  in S&P 500 on March 24, 2014 and sell it today you would earn a total of  1,393  from holding S&P 500 or generate 0.75% return on investment over 30 days.


Very weak 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

Correlation Coefficient

Time Period1 Month [change]
DirectionPositive ^GSPC Moved Up vs AAPL
ValuesDaily Returns
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Predicted Return Density

Apple Inc

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

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S&P 500


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