Correlation Analysis Between LG Display and Apple

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 and Apple.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

LG Display  
00

Risk-Adjusted Performance

Over the last 30 days LG Display Co Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. Even with conflicting performance in the last few months, the Stock's technical indicators remain considerably steady which may send shares a bit higher in July 2019. The new chaos may also be a sign of medium term up-swing for the business stakeholders.
Apple  
00

Risk-Adjusted Performance

Over the last 30 days Apple has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest conflicting performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.

LG Display and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

LG Display Co Ltd  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, LG Display Co Ltd is expected to under-perform the Apple. In addition to that, LG Display is 1.49 times more volatile than Apple. It trades about -0.27 of its total potential returns per unit of risk. Apple is currently generating about -0.06 per unit of volatility. If you would invest  20,386  in Apple on May 18, 2019 and sell it today you would lose (968.00)  from holding Apple or give up 4.75% of portfolio value over 30 days.

Pair Corralation between LG Display and Apple

0.74
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LG Display and Apple

LG Display Co Ltd diversification synergy

Poor 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.

LG Display Co Ltd

Pair trading matchups for LG Display

See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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