Correlation Analysis Between GRUPO HERDEZ and Apple

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

GRUPO HERDEZ SAB  
00

Risk-Adjusted Performance

Over the last 30 days GRUPO HERDEZ SAB DE CV has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's fundamental drivers remain rather sound which may send shares a bit higher in December 2019. The ongoing tumult may also be a sign of longer-term up-swing for the firm shareholders.
Apple  
1717

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 17 (%) 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.

GRUPO HERDEZ and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

GRUPO HERDEZ SAB DE CV  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, GRUPO HERDEZ SAB DE CV is expected to under-perform the Apple. In addition to that, GRUPO HERDEZ is 1.58 times more volatile than Apple. It trades about -0.16 of its total potential returns per unit of risk. Apple is currently generating about 0.27 per unit of volatility. If you would invest  21,035  in Apple on October 18, 2019 and sell it today you would earn a total of  5,541  from holding Apple or generate 26.34% return on investment over 30 days.

Pair Corralation between GRUPO HERDEZ and Apple

-0.62
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy46.15%
ValuesDaily Returns

Diversification Opportunities for GRUPO HERDEZ and Apple

GRUPO HERDEZ SAB DE CV diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding GRUPO HERDEZ SAB DE CV and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and GRUPO HERDEZ 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 GRUPO HERDEZ SAB DE CV 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 GRUPO HERDEZ i.e. GRUPO HERDEZ and Apple go up and down completely randomly.
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