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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ETFS Commodity Securities Ltd   vs.  Apple Inc 0R2V

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, ETFS Wheat is expected to generate 1.59 times less return on investment than Apple. But when comparing it to its historical volatility, ETFS Wheat ETC is 1.27 times less risky than Apple. It trades about 0.23 of its potential returns per unit of risk. Apple is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest  16,294  in Apple on April 25, 2018 and sell it today you would earn a total of  2,442  from holding Apple or generate 14.99% return on investment over 30 days.

Pair Corralation between ETFS Wheat and Apple

0.1
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding ETFS Commodity Securities Ltd and Apple Inc 0R2V in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc 0R2V 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 Inc 0R2V has no effect on the direction of ETFS Wheat i.e. ETFS Wheat and Apple go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ETFS Commodity Secur  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ETFS Wheat ETC are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Apple Inc 0R2V  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1076.95

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See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.