Correlation Analysis Between Apple and Macys

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

Apple Inc  vs.  Macys Inc

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to generate 0.98 times more return on investment than Macys. However, Apple is 1.02 times less risky than Macys. It trades about 0.03 of its potential returns per unit of risk. Macys is currently generating about -0.16 per unit of risk. If you would invest  21,549  in Apple on August 23, 2018 and sell it today you would earn a total of  217.00  from holding Apple or generate 1.01% return on investment over 30 days.

Pair Corralation between Apple and Macys

Time Period1 Month [change]
ValuesDaily Returns


Significant diversification

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

Comparative Volatility

 Predicted Return Density 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

My Equities

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.