Correlation Analysis Between American Airlines and Apple

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

American Airlines  
00

Risk-Adjusted Performance

Over the last 30 days American Airlines Group has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, American Airlines is not utilizing all of its potentials. The current stock price chaos, may contribute to medium term losses for the stakeholders.
Apple  
1919

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Apple revealed solid returns over the last few months and may actually be approaching a breakup point.

American Airlines and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

American Airlines Group Inc  vs.  Apple

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, American Airlines is expected to generate 503.71 times less return on investment than Apple. In addition to that, American Airlines is 1.55 times more volatile than Apple. It trades about 0.0 of its total potential returns per unit of risk. Apple is currently generating about 0.29 per unit of volatility. If you would invest  21,990  in Apple on November 14, 2019 and sell it today you would earn a total of  5,525  from holding Apple or generate 25.13% return on investment over 30 days.

Pair Corralation between American Airlines and Apple

0.34
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for American Airlines and Apple

American Airlines Group Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding American Airlines Group Inc and Apple in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and American Airlines 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 American Airlines Group 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 American Airlines i.e. American Airlines and Apple go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.


 
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