Correlation Analysis Between Apple and ATT

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

Apple Inc  vs.  ATT

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to under-perform the ATT. In addition to that, Apple is 1.86 times more volatile than ATT. It trades about -0.04 of its total potential returns per unit of risk. ATT is currently generating about 0.08 per unit of volatility. If you would invest  3,311  in ATT on August 19, 2018 and sell it today you would earn a total of  51.00  from holding ATT or generate 1.54% return on investment over 30 days.

Pair Corralation between Apple and ATT

Time Period1 Month [change]
ValuesDaily Returns


Excellent diversification

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

Comparative Volatility

 Predicted Return Density 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ATT are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

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