Correlation Between USWE SPORTS and Apollo Medical

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

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

Diversification Opportunities for USWE SPORTS and Apollo Medical

0.2

Correlation Coefficient

USWE SPORTS  Apollo Medical

Modest diversification

The 3 months correlation between USWE and Apollo is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding USWE SPORTS AB and Apollo Medical Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Medical Holdings and USWE SPORTS 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 USWE SPORTS AB are associated (or correlated) with Apollo Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Medical Holdings has no effect on the direction of USWE SPORTS i.e., USWE SPORTS and Apollo Medical go up and down completely randomly.

Pair Corralation between USWE SPORTS and Apollo Medical

If you would invest  134.00  in USWE SPORTS AB on July 24, 2025 and sell it today you would earn a total of  7.00  from holding USWE SPORTS AB or generate 5.22% return on investment over 90 days.

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

USWE SPORTS AB  vs.  Apollo Medical Holdings

USWE SPORTS AB

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in USWE SPORTS AB are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, USWE SPORTS reported solid returns over the last few months and may actually be approaching a breakup point.

Apollo Medical Holdings

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Apollo Medical Holdings are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. 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.

Pair Trading with USWE SPORTS and Apollo Medical

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

The idea behind USWE SPORTS AB and Apollo Medical Holdings 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.

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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.