This module allows you to analyze existing cross correlation between LG Display Co Ltd and Apple. You can compare the effects of market volatilities on LG Display 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 LG Display with a short position of Apple. See also your portfolio center
. Please also check ongoing floating volatility patterns of LG Display
Compared to the overall equity markets, risk-adjusted returns on investments in LG Display Co Ltd are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Apple has generated negative risk-adjusted returns adding no value to investors with long positions.
LG Display and Apple Volatility Contrast
LG Display Co Ltd vs. Apple Inc
Considering 30-days investment horizon, LG Display Co Ltd is expected to generate 0.66 times more return on investment than Apple. However, LG Display Co Ltd is 1.51 times less risky than Apple. It trades about 0.12 of its potential returns per unit of risk. Apple is currently generating about 0.06 per unit of risk. If you would invest 803.00 in LG Display Co Ltd on January 18, 2019 and sell it today you would earn a total of 76.00 from holding LG Display Co Ltd or generate 9.46% return on investment over 30 days.
Pair Corralation between LG Display and Apple
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Diversification Opportunities for LG Display and Apple
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding LG Display Co Ltd and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and LG Display 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 LG Display Co Ltd 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 LG Display i.e. LG Display and Apple go up and down completely randomly.