Correlation Analysis Between Eastman Kodak and Apple

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

Eastman Kodak  
00

Risk-Adjusted Performance

Over the last 30 days Eastman Kodak Company has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, Eastman Kodak is not utilizing all of its potentials. The existing stock price confusion, may contribute to short-horizon losses for the traders.
Apple  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Even with considerably steady technical indicators, Apple is not utilizing all of its potentials. The existing stock price chaos, may contribute to medium term losses for the stakeholders.

Eastman Kodak and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

Eastman Kodak Company  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Eastman Kodak is expected to generate 5.07 times less return on investment than Apple. In addition to that, Eastman Kodak is 1.66 times more volatile than Apple. It trades about 0.01 of its total potential returns per unit of risk. Apple is currently generating about 0.05 per unit of volatility. If you would invest  19,557  in Apple on July 25, 2019 and sell it today you would earn a total of  707.00  from holding Apple or generate 3.62% return on investment over 30 days.

Pair Corralation between Eastman Kodak and Apple

0.02
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Eastman Kodak and Apple

Eastman Kodak Company diversification synergy

Significant diversification

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