Correlation Analysis Between Emerson Radio and Apple

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

Comparative Performance

Emerson Radio Corp  

Risk-Adjusted Performance

Over the last 30 days Emerson Radio Corp has generated negative risk-adjusted returns adding no value to investors with long positions.

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.

Emerson Radio and Apple Volatility Contrast

 Predicted Return Density 

Emerson Radio Corp  vs.  Apple Inc

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, Emerson Radio Corp is expected to under-perform the Apple. But the stock apears to be less risky and, when comparing its historical volatility, Emerson Radio Corp is 1.17 times less risky than Apple. The stock trades about -0.06 of its potential returns per unit of risk. The Apple is currently generating about 0.33 of returns per unit of risk over similar time horizon. If you would invest  15,330  in Apple on February 21, 2019 and sell it today you would earn a total of  3,775  from holding Apple or generate 24.62% return on investment over 30 days.

Pair Corralation between Emerson Radio and Apple

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Emerson Radio and Apple

Emerson Radio Corp diversification synergy

Excellent diversification

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

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See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.