Correlation Between Atmos Energy and APPLE
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By analyzing existing cross correlation between Atmos Energy and APPLE INC, you can compare the effects of market volatilities on Atmos Energy 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 Atmos Energy with a short position of APPLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atmos Energy and APPLE.
Diversification Opportunities for Atmos Energy and APPLE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atmos and APPLE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atmos Energy and APPLE INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APPLE INC and Atmos Energy 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 Atmos Energy 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 Atmos Energy i.e., Atmos Energy and APPLE go up and down completely randomly.
Pair Corralation between Atmos Energy and APPLE
If you would invest 13,399 in Atmos Energy on September 12, 2024 and sell it today you would earn a total of 604.00 from holding Atmos Energy or generate 4.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
Atmos Energy vs. APPLE INC
Performance |
| Timeline |
| Atmos Energy |
| APPLE INC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Atmos Energy and APPLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atmos Energy and APPLE
The main advantage of trading using opposite Atmos Energy and APPLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atmos Energy 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.| Atmos Energy vs. One Gas | Atmos Energy vs. NiSource | Atmos Energy vs. Aquagold International | Atmos Energy vs. Thrivent High Yield |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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