This module allows you to analyze existing cross correlation between Apple Inc and Gartner Inc. You can compare the effects of market volatilities on Apple and Gartner 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 Gartner. See also your portfolio center
. Please also check ongoing floating volatility patterns of Apple
Apple Inc vs Gartner Inc
Given the investment horizon of 30 days, Apple is expected to generate 2.14 times less return on investment than Gartner. In addition to that, Apple is 1.0 times more volatile than Gartner Inc. It trades about 0.12 of its total potential returns per unit of risk. Gartner Inc is currently generating about 0.26 per unit of volatility. If you would invest 11,662 in Gartner Inc on November 18, 2017 and sell it today you would earn a total of 589 from holding Gartner Inc or generate 5.05% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Gartner Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Gartner Inc 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 Gartner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gartner Inc has no effect on the direction of Apple i.e. Apple and Gartner go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Gartner Inc are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.