Correlation Analysis Between ETFS Wheat and Apple

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

Comparative Performance

ETFS Wheat ETC  
0

Risk-Adjusted Performance

Over the last 30 days ETFS Wheat ETC has generated negative risk-adjusted returns adding no value to investors with long positions.
Apple  
12

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

ETFS Wheat and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

ETFS Wheat ETC  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ETFS Wheat ETC is expected to under-perform the Apple. But the etf apears to be less risky and, when comparing its historical volatility, ETFS Wheat ETC is 14.46 times less risky than Apple. The etf trades about -0.21 of its potential returns per unit of risk. The Apple is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  12,677  in Apple on January 23, 2019 and sell it today you would earn a total of  4,441  from holding Apple or generate 35.03% return on investment over 30 days.

Pair Corralation between ETFS Wheat and Apple

0.11
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy88.89%
ValuesDaily Returns

Diversification Opportunities for ETFS Wheat and Apple

ETFS Wheat ETC diversification synergy

Average diversification

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

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