Correlation Between BankInvest Optima and Apple

By analyzing existing cross correlation between BankInvest Optima 30 and Apple Inc you can compare the effects of market volatilities on BankInvest Optima 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 BankInvest Optima with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Optima and Apple.

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Can any of the company-specific risk be diversified away by investing in both BankInvest Optima and Apple at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing BankInvest Optima and Apple into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for BankInvest Optima and Apple

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Pay attention - limited upside

The 3 months correlation between BankInvest and Apple is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Optima 30 KL and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and BankInvest Optima 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 BankInvest Optima 30 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 BankInvest Optima i.e. BankInvest Optima and Apple go up and down completely randomly.

Pair Corralation between BankInvest Optima and Apple

If you would invest  30,274  in Apple Inc on May 3, 2020 and sell it today you would earn a total of  2,060  from holding Apple Inc or generate 6.8% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns

BankInvest Optima 30 KL  vs.  Apple Inc

 Performance (%) 
BankInvest Optima 

BankInvest Optima Risk-Adjusted Performance

Over the last 30 days BankInvest Optima 30 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, BankInvest Optima is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Apple Inc 

Apple Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Apple may actually be approaching a critical reversion point that can send shares even higher in July 2020.

BankInvest Optima and Apple Volatility Contrast

Check out your portfolio center. Please also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.

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