Correlation Between Apollo Investment and SDAX Index
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By analyzing existing cross correlation between Apollo Investment Corp and SDAX Index, you can compare the effects of market volatilities on Apollo Investment and SDAX Index 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 Investment with a short position of SDAX Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Investment and SDAX Index.
Diversification Opportunities for Apollo Investment and SDAX Index
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Apollo and SDAX is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Investment Corp and SDAX Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SDAX Index and Apollo Investment 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 Investment Corp are associated (or correlated) with SDAX Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SDAX Index has no effect on the direction of Apollo Investment i.e., Apollo Investment and SDAX Index go up and down completely randomly.
Pair Corralation between Apollo Investment and SDAX Index
Assuming the 90 days trading horizon Apollo Investment Corp is expected to generate 1.17 times more return on investment than SDAX Index. However, Apollo Investment is 1.17 times more volatile than SDAX Index. It trades about 0.08 of its potential returns per unit of risk. SDAX Index is currently generating about 0.02 per unit of risk. If you would invest 1,303 in Apollo Investment Corp on October 8, 2024 and sell it today you would earn a total of 18.00 from holding Apollo Investment Corp or generate 1.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apollo Investment Corp vs. SDAX Index
Performance |
| Timeline |
Apollo Investment and SDAX Index Volatility Contrast
Predicted Return Density |
| Returns |
Apollo Investment Corp
Pair trading matchups for Apollo Investment
SDAX Index
Pair trading matchups for SDAX Index
Pair Trading with Apollo Investment and SDAX Index
The main advantage of trading using opposite Apollo Investment and SDAX Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Investment position performs unexpectedly, SDAX Index 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 SDAX Index will offset losses from the drop in SDAX Index's long position.| Apollo Investment vs. The Charles Schwab | Apollo Investment vs. Superior Plus Corp | Apollo Investment vs. NMI Holdings | Apollo Investment vs. SIVERS SEMICONDUCTORS AB |
| SDAX Index vs. MUTUIONLINE | SDAX Index vs. CARSALESCOM | SDAX Index vs. CODERE ONLINE LUX | SDAX Index vs. United Insurance Holdings |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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