Correlation Between Apollo Global and Element Fleet

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

By analyzing existing cross correlation between Apollo Global Management and Element Fleet Management, you can compare the effects of market volatilities on Apollo Global and Element Fleet 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 Global with a short position of Element Fleet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Global and Element Fleet.

Diversification Opportunities for Apollo Global and Element Fleet

0.16

Correlation Coefficient

Apollo Global  Element Fleet

Average diversification

The 3 months correlation between Apollo and Element is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Global Management and Element Fleet Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Element Fleet Management and Apollo Global 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 Global Management are associated (or correlated) with Element Fleet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Element Fleet Management has no effect on the direction of Apollo Global i.e., Apollo Global and Element Fleet go up and down completely randomly.

Pair Corralation between Apollo Global and Element Fleet

Assuming the 90 days trading horizon Apollo Global Management is expected to generate 1.46 times more return on investment than Element Fleet. However, Apollo Global is 1.46 times more volatile than Element Fleet Management. It trades about 0.07 of its potential returns per unit of risk. Element Fleet Management is currently generating about -0.03 per unit of risk. If you would invest  7,182  in Apollo Global Management on September 12, 2025 and sell it today you would earn a total of  566.00  from holding Apollo Global Management or generate 7.88% return on investment over 90 days.

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

Apollo Global Management  vs.  Element Fleet Management

Apollo Global Management

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Apollo Global Management are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite somewhat fragile basic indicators, Apollo Global may actually be approaching a critical reversion point that can send shares even higher in January 2026.

Element Fleet Management

Risk-Adjusted Performance

Weakest

Over the last 90 days Element Fleet Management has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable technical and fundamental indicators, Element Fleet 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 Global and Element Fleet

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

The idea behind Apollo Global Management and Element Fleet Management 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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.