Correlation Between Apollo Medical and Vienna Insurance

Can any of the company-specific risk be diversified away by investing in both Apollo Medical and Vienna Insurance 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 Apollo Medical and Vienna Insurance into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Apollo Medical Holdings and Vienna Insurance Group, you can compare the effects of market volatilities on Apollo Medical and Vienna Insurance 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 Apollo Medical with a short position of Vienna Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Medical and Vienna Insurance.

Diversification Opportunities for Apollo Medical and Vienna Insurance

-0.52

Correlation Coefficient

Apollo Medical  Vienna Insurance

Excellent diversification

The 3 months correlation between Apollo and Vienna is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Medical Holdings and Vienna Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vienna Insurance and Apollo Medical 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 Apollo Medical Holdings are associated (or correlated) with Vienna Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vienna Insurance has no effect on the direction of Apollo Medical i.e., Apollo Medical and Vienna Insurance go up and down completely randomly.

Pair Corralation between Apollo Medical and Vienna Insurance

Assuming the 90 days horizon Apollo Medical Holdings is expected to under-perform the Vienna Insurance. In addition to that, Apollo Medical is 2.3 times more volatile than Vienna Insurance Group. It trades about -0.03 of its total potential returns per unit of risk. Vienna Insurance Group is currently generating about 0.07 per unit of volatility. If you would invest  4,445  in Vienna Insurance Group on May 28, 2025 and sell it today you would earn a total of  250.00  from holding Vienna Insurance Group or generate 5.62% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Apollo Medical Holdings  vs.  Vienna Insurance Group

Apollo Medical Holdings

Risk-Adjusted Performance

Weakest

Over the last 90 days Apollo Medical Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Apollo Medical is not utilizing all of its potentials. The newest stock price disturbance, may contribute to mid-run losses for the stockholders.

Vienna Insurance

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Vienna Insurance Group are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable basic indicators, Vienna Insurance is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Apollo Medical and Vienna Insurance

The main advantage of trading using opposite Apollo Medical and Vienna Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Medical position performs unexpectedly, Vienna Insurance 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 Vienna Insurance will offset losses from the drop in Vienna Insurance's long position.

The idea behind Apollo Medical Holdings and Vienna Insurance Group pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.