Apple Inc vs. Sprint Corp.
Given the investment horizon of 30 days, Apple is expected to under-perform the Sprint. But the stock apears to be less risky and, when comparing its historical volatility, Apple is 1.22 times less risky than Sprint. The stock trades about -0.06 of its potential returns per unit of risk. The Sprint Corporation is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest 516.00 in Sprint Corporation on May 21, 2018 and sell it today you would earn a total of 37.00 from holding Sprint Corporation or generate 7.17% return on investment over 30 days.
Pair Corralation between Apple and Sprint
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Sprint Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Sprint 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 Sprint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sprint has no effect on the direction of Apple i.e. Apple and Sprint go up and down completely randomly.
Over the last 30 days Apple 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 Sprint Corporation are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.
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