Correlation Between Apollo Global and Huntwicke Capital
Can any of the company-specific risk be diversified away by investing in both Apollo Global and Huntwicke Capital 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 Huntwicke Capital 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 Huntwicke Capital Group, you can compare the effects of market volatilities on Apollo Global and Huntwicke Capital 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 Huntwicke Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Global and Huntwicke Capital.
Diversification Opportunities for Apollo Global and Huntwicke Capital
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Apollo and Huntwicke is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Global Management and Huntwicke Capital Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huntwicke Capital 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 Huntwicke Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huntwicke Capital has no effect on the direction of Apollo Global i.e., Apollo Global and Huntwicke Capital go up and down completely randomly.
Pair Corralation between Apollo Global and Huntwicke Capital
If you would invest 14,313 in Apollo Global Management on August 24, 2024 and sell it today you would earn a total of 2,189 from holding Apollo Global Management or generate 15.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.35% |
| Values | Daily Returns |
Apollo Global Management vs. Huntwicke Capital Group
Performance |
| Timeline |
| Apollo Global Management |
| Huntwicke Capital |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Apollo Global and Huntwicke Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apollo Global and Huntwicke Capital
The main advantage of trading using opposite Apollo Global and Huntwicke Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Global position performs unexpectedly, Huntwicke Capital 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 Huntwicke Capital will offset losses from the drop in Huntwicke Capital's long position.| Apollo Global vs. Invesco Advantage MIT | Apollo Global vs. Invesco Municipal Trust | Apollo Global vs. Invesco California Value | Apollo Global vs. Victory Capital Holdings |
| Huntwicke Capital vs. BlackRock | Huntwicke Capital vs. KKR Co LP | Huntwicke Capital vs. Apollo Global Management | Huntwicke Capital vs. Brookfield Asset Management |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated |