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 Inc is expected to under-perform the Gartner. But the stock apears to be less risky and, when comparing its historical volatility, Apple Inc is 1.22 times less risky than Gartner. The stock trades about -0.16 of its potential returns per unit of risk. The Gartner Inc is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 11,554 in Gartner Inc on February 22, 2018 and sell it today you would earn a total of 215.00 from holding Gartner Inc or generate 1.86% return on investment over 30 days.
|Time Period||1 Month [change]|
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.
Over the last 30 days Apple Inc has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Gartner Inc are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.