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
Compare Efficiency

Comparative Performance

LG Display  
8

Risk-Adjusted Performance

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.
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.

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 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

-0.37
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy97.44%
ValuesDaily Returns

Diversification Opportunities for LG Display and Apple

LG Display Co Ltd diversification synergy

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.

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