This module allows you to analyze existing cross correlation between Apple Inc and Visa Inc. You can compare the effects of market volatilities on Apple and Visa 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 Visa. See also your portfolio center
. Please also check ongoing floating volatility patterns of Apple
Apple Inc vs Visa Inc
Given the investment horizon of 30 days, Apple Inc is expected to generate 0.95 times more return on investment than Visa. However, Apple Inc is 1.06 times less risky than Visa. It trades about 0.18 of its potential returns per unit of risk. Visa Inc is currently generating about 0.1 per unit of risk. If you would invest 17,185 in Apple Inc on February 17, 2018 and sell it today you would earn a total of 617.00 from holding Apple Inc or generate 3.59% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Visa Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Visa 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 Visa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Visa Inc has no effect on the direction of Apple i.e. Apple and Visa go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Visa Inc are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.