Correlation Analysis Between Apple and Ford Motor

This module allows you to analyze existing cross correlation between Apple and Ford Motor Company. You can compare the effects of market volatilities on Apple and Ford Motor 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 Ford Motor. See also your portfolio center. Please also check ongoing floating volatility patterns of Apple and Ford Motor.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

Apple  
0

Risk-Adjusted Performance

Over the last 30 days Apple has generated negative risk-adjusted returns adding no value to investors with long positions.
Ford Motor  
2

Risk-Adjusted Performance

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

Apple and Ford Motor Volatility Contrast

 Predicted Return Density 
      Returns 

Apple Inc  vs.  Ford Motor Company

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to under-perform the Ford Motor. In addition to that, Apple is 1.01 times more volatile than Ford Motor Company. It trades about -0.23 of its total potential returns per unit of risk. Ford Motor Company is currently generating about 0.03 per unit of volatility. If you would invest  851.00  in Ford Motor Company on November 17, 2018 and sell it today you would earn a total of  19.50  from holding Ford Motor Company or generate 2.29% return on investment over 30 days.

Pair Corralation between Apple and Ford Motor

-0.06
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Apple and Ford Motor

Apple Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Ford Motor Company in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Ford Motor 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 are associated (or correlated) with Ford Motor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ford Motor has no effect on the direction of Apple i.e. Apple and Ford Motor go up and down completely randomly.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
Search macroaxis.com