Pair Correlation Between Ford Motor and Apple

This module allows you to analyze existing cross correlation between Ford Motor Company and Apple. You can compare the effects of market volatilities on Ford Motor and Apple 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 Ford Motor with a short position of Apple. See also your portfolio center. Please also check ongoing floating volatility patterns of Ford Motor and Apple.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Ford Motor Company  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Ford Motor Company is expected to generate 0.96 times more return on investment than Apple. However, Ford Motor Company is 1.04 times less risky than Apple. It trades about 0.04 of its potential returns per unit of risk. Apple is currently generating about -0.13 per unit of risk. If you would invest  1,089  in Ford Motor Company on March 27, 2018 and sell it today you would earn a total of  22.00  from holding Ford Motor Company or generate 2.02% return on investment over 30 days.

Pair Corralation between Ford Motor and Apple

-0.12
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Ford Motor  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Ford Motor Company are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Apple  
0 

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1067.45

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