Correlation Between MAN INDUSTRIES and Apple

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

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

Diversification Opportunities for MAN INDUSTRIES and Apple

0.0
  Correlation Coefficient
MAN INDUSTRIES IN
Apple Inc

Pay attention - limited upside

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

Pair Corralation between MAN INDUSTRIES and Apple

If you would invest  26,247  in Apple Inc on June 5, 2020 and sell it today you would earn a total of  10,164  from holding Apple Inc or generate 38.72% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

MAN INDUSTRIES IN  vs.  Apple Inc

 Performance (%) 
      Timeline 
MAN INDUSTRIES IN 
00

MAN INDUSTRIES Risk-Adjusted Performance

Over the last 30 days MAN INDUSTRIES IN has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, MAN INDUSTRIES is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the retail investors.
Apple Inc 
2020

Apple Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 20 (%) 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.

MAN INDUSTRIES and Apple Volatility Contrast

Check out your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
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