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 1.06 times less return on investment than SP 500. In addition to that, Apple Inc is 1.41 times more volatile than S&P 500. It trades about 0.05 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  192,122  in S&P 500 on September 4, 2015 and sell it today you would earn a total of  3,014  from holding S&P 500 or generate 1.57% return on investment over 30 days.

Correlation Coefficient



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


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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Apple Inc


Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Apple Inc


S&P 500


Pair trading matchups for SP 500