Correlation Between AmTrust Financial and APPLE
Specify exactly 2 symbols:
By analyzing existing cross correlation between AmTrust Financial Services and APPLE INC, you can compare the effects of market volatilities on AmTrust Financial 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 AmTrust Financial with a short position of APPLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AmTrust Financial and APPLE.
Diversification Opportunities for AmTrust Financial and APPLE
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AmTrust and APPLE is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding AmTrust Financial Services and APPLE INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APPLE INC and AmTrust Financial 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 AmTrust Financial Services 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 has no effect on the direction of AmTrust Financial i.e., AmTrust Financial and APPLE go up and down completely randomly.
Pair Corralation between AmTrust Financial and APPLE
Assuming the 90 days horizon AmTrust Financial Services is expected to generate 1.83 times more return on investment than APPLE. However, AmTrust Financial is 1.83 times more volatile than APPLE INC. It trades about 0.03 of its potential returns per unit of risk. APPLE INC is currently generating about 0.0 per unit of risk. If you would invest 1,238 in AmTrust Financial Services on August 27, 2024 and sell it today you would earn a total of 261.00 from holding AmTrust Financial Services or generate 21.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.58% |
| Values | Daily Returns |
AmTrust Financial Services vs. APPLE INC
Performance |
| Timeline |
| AmTrust Financial |
| APPLE INC |
AmTrust Financial and APPLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AmTrust Financial and APPLE
The main advantage of trading using opposite AmTrust Financial and APPLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AmTrust Financial position performs unexpectedly, APPLE 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 APPLE will offset losses from the drop in APPLE's long position.| AmTrust Financial vs. Progressive Corp | AmTrust Financial vs. White Mountains Insurance | AmTrust Financial vs. Chubb | AmTrust Financial vs. W R Berkley |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |