Correlation Analysis Between Sm Prime and Apple

Analyzing existing cross correlation between Sm Prime Holding Intl Shs and Apple. You can compare the effects of market volatilities on Sm Prime 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 Sm Prime with a short position of Apple. See also your portfolio center. Please also check ongoing floating volatility patterns of Sm Prime and Apple.
Horizon     30 Days    Login   to change
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Comparative Performance

Sm Prime Holding  

Risk-Adjusted Performance

Over the last 30 days Sm Prime Holding Intl Shs has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Sm Prime is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 28 (%) 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.

Sm Prime and Apple Volatility Contrast

Sm Prime Holding Intl Shs  vs.  Apple

 Performance (%) 

Pair Volatility

If you would invest  24,051  in Apple on December 20, 2019 and sell it today you would earn a total of  7,822  from holding Apple or generate 32.52% return on investment over 30 days.

Pair Corralation between Sm Prime and Apple

Time Period3 Months [change]
ValuesDaily Returns

Diversification Opportunities for Sm Prime and Apple

Sm Prime Holding Intl Shs diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Sm Prime Holding Intl Shs and Apple in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and Sm Prime 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 Sm Prime Holding Intl Shs 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 Sm Prime i.e. Sm Prime and Apple go up and down completely randomly.
See also your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.