Correlation Between Aegon NV and Apple
Can any of the company-specific risk be diversified away by investing in both Aegon NV 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 Aegon NV and Apple into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aegon NV PRP and Apple Inc, you can compare the effects of market volatilities on Aegon NV 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 Aegon NV with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aegon NV and Apple.
Diversification Opportunities for Aegon NV and Apple
Pay attention - limited upside
The 3 months correlation between Aegon and Apple is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aegon NV PRP and Apple Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and Aegon NV 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 Aegon NV PRP 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 Aegon NV i.e., Aegon NV and Apple go up and down completely randomly.
Pair Corralation between Aegon NV and Apple
If you would invest (100.00) in Aegon NV PRP on January 26, 2024 and sell it today you would earn a total of 100.00 from holding Aegon NV PRP or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Aegon NV PRP vs. Apple Inc
Performance |
| Timeline |
| Aegon NV PRP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Apple Inc |
Aegon NV and Apple Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aegon NV and Apple
The main advantage of trading using opposite Aegon NV and Apple positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aegon NV position performs unexpectedly, Apple can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Apple will offset losses from the drop in Apple's long position.| Aegon NV vs. Arrow Electronics | Aegon NV vs. CenterPoint Energy | Aegon NV vs. Western Midstream Partners | Aegon NV vs. Casio Computer Co |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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