This module allows you to analyze existing cross correlation between ATT Inc and Apple Inc. You can compare the effects of market volatilities on ATT 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 ATT with a short position of Apple. See also your portfolio center
. Please also check ongoing floating volatility patterns of ATT
ATT Inc vs Apple Inc
Taking into account the 30 trading days horizon, ATT is expected to generate 11.15 times less return on investment than Apple. In addition to that, ATT is 1.26 times more volatile than Apple Inc. It trades about 0.01 of its total potential returns per unit of risk. Apple Inc is currently generating about 0.09 per unit of volatility. If you would invest 15,339 in Apple Inc on September 21, 2017 and sell it today you would earn a total of 286 from holding Apple Inc or generate 1.86% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding ATT Inc and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and ATT 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 ATT Inc 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 Inc has no effect on the direction of ATT i.e. ATT and Apple go up and down completely randomly.
Over the last 30 days ATT Inc has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.