Correlation Between Apollo Global and AMP
Can any of the company-specific risk be diversified away by investing in both Apollo Global and AMP 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 AMP 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 AMP, you can compare the effects of market volatilities on Apollo Global and AMP 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 AMP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Global and AMP.
Diversification Opportunities for Apollo Global and AMP
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Apollo and AMP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Global Management and AMP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMP 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 AMP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMP has no effect on the direction of Apollo Global i.e., Apollo Global and AMP go up and down completely randomly.
Pair Corralation between Apollo Global and AMP
If you would invest 0.00 in AMP on December 1, 2024 and sell it today you would earn a total of 0.00 from holding AMP or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Apollo Global Management vs. AMP
Performance |
| Timeline |
| Apollo Global Management |
| AMP |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Apollo Global and AMP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apollo Global and AMP
The main advantage of trading using opposite Apollo Global and AMP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Global position performs unexpectedly, AMP 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 AMP will offset losses from the drop in AMP's long position.| Apollo Global vs. Carlyle Group | Apollo Global vs. Blackstone Group | Apollo Global vs. Brookfield Asset Management | Apollo Global vs. Ares Management LP |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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