Correlation Analysis Between Apple and LG Display

This module allows you to analyze existing cross correlation between Apple and LG Display Co Ltd AMERICAN DEP. You can compare the effects of market volatilities on Apple and LG Display 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 LG Display. See also your portfolio center. Please also check ongoing floating volatility patterns of Apple and LG Display.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Apple  
99

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 9 (%) 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.
LG Display  
00

Risk-Adjusted Performance

Over the last 30 days LG Display Co Ltd AMERICAN DEP 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 November 2019. The new chaos may also be a sign of medium term up-swing for the business stakeholders.

Apple and LG Display Volatility Contrast

 Predicted Return Density 
      Returns 

Apple Inc  vs.  LG Display Co Ltd AMERICAN DEP

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Apple is expected to generate 0.63 times more return on investment than LG Display. However, Apple is 1.59 times less risky than LG Display. It trades about 0.14 of its potential returns per unit of risk. LG Display Co Ltd AMERICAN DEP is currently generating about -0.08 per unit of risk. If you would invest  20,182  in Apple on September 17, 2019 and sell it today you would earn a total of  3,265  from holding Apple or generate 16.18% return on investment over 30 days.

Pair Corralation between Apple and LG Display

0.12
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Apple and LG Display

Apple Inc diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and LG Display Co Ltd AMERICAN DEP in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LG Display 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 LG Display. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LG Display has no effect on the direction of Apple i.e. Apple and LG Display go up and down completely randomly.
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