Correlation Analysis Between Apple and Guitammer

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

Apple  
88

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Even with considerably conflicting technical indicators, Apple revealed solid returns over the last few months and may actually be approaching a breakup point.
Guitammer CO  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Guitammer CO are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Even with considerably conflicting technical indicators, Guitammer may actually be approaching a critical reversion point that can send shares even higher in November 2019.

Apple and Guitammer Volatility Contrast

 Predicted Return Density 
      Returns 

Apple Inc  vs.  Guitammer CO

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to generate 0.22 times more return on investment than Guitammer. However, Apple is 4.64 times less risky than Guitammer. It trades about 0.13 of its potential returns per unit of risk. Guitammer CO is currently generating about 0.02 per unit of risk. If you would invest  20,643  in Apple on September 20, 2019 and sell it today you would earn a total of  2,998  from holding Apple or generate 14.52% return on investment over 30 days.

Pair Corralation between Apple and Guitammer

-0.56
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Apple and Guitammer

Apple Inc diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Guitammer CO in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Guitammer CO and Apple 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 Apple are associated (or correlated) with Guitammer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guitammer CO has no effect on the direction of Apple i.e. Apple and Guitammer go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.


 
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