Pair Correlation Between Apple and SP 500

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. See also your portfolio center. Please also check ongoing floating volatility patterns of Apple and SP 500.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Apple Inc  vs   S&P 500
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  17,185  in Apple Inc on January 22, 2018 and sell it today you would earn a total of  0.00  from holding Apple Inc or generate 0.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Apple and SP 500
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the 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. The correlation between historical prices or returns on SP 500 and Apple is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Apple Inc are associated (or correlated) with SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of Apple i.e. Apple and SP 500 go up and down completely randomly.
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Comparative Volatility