Correlation Between Integral and APPLE
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By analyzing existing cross correlation between Integral Ad Science and APPLE INC, you can compare the effects of market volatilities on Integral 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 Integral with a short position of APPLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integral and APPLE.
Diversification Opportunities for Integral and APPLE
Very good diversification
The 3 months correlation between Integral and APPLE is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Integral Ad Science and APPLE INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APPLE INC and Integral 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 Integral Ad Science 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 Integral i.e., Integral and APPLE go up and down completely randomly.
Pair Corralation between Integral and APPLE
Considering the 90-day investment horizon Integral Ad Science is expected to generate 2.4 times more return on investment than APPLE. However, Integral is 2.4 times more volatile than APPLE INC. It trades about -0.01 of its potential returns per unit of risk. APPLE INC is currently generating about -0.03 per unit of risk. If you would invest 1,163 in Integral Ad Science on August 30, 2024 and sell it today you would lose (44.00) from holding Integral Ad Science or give up 3.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.31% |
| Values | Daily Returns |
Integral Ad Science vs. APPLE INC
Performance |
| Timeline |
| Integral Ad Science |
| APPLE INC |
Integral and APPLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integral and APPLE
The main advantage of trading using opposite Integral and APPLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integral 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.The idea behind Integral Ad Science and APPLE INC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| APPLE vs. Hurco Companies | APPLE vs. Aldel Financial II | APPLE vs. Chester Mining | APPLE vs. Eldorado Gold Corp |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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