Correlation Between Marvell Technology and APPLE
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By analyzing existing cross correlation between Marvell Technology Group and APPLE INC, you can compare the effects of market volatilities on Marvell Technology 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 Marvell Technology with a short position of APPLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marvell Technology and APPLE.
Diversification Opportunities for Marvell Technology and APPLE
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marvell and APPLE is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Marvell Technology Group and APPLE INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APPLE INC and Marvell Technology 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 Marvell Technology Group 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 Marvell Technology i.e., Marvell Technology and APPLE go up and down completely randomly.
Pair Corralation between Marvell Technology and APPLE
Given the investment horizon of 90 days Marvell Technology Group is expected to generate 3.25 times more return on investment than APPLE. However, Marvell Technology is 3.25 times more volatile than APPLE INC. It trades about 0.06 of its potential returns per unit of risk. APPLE INC is currently generating about -0.01 per unit of risk. If you would invest 7,148 in Marvell Technology Group on August 27, 2024 and sell it today you would earn a total of 2,103 from holding Marvell Technology Group or generate 29.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.47% |
| Values | Daily Returns |
Marvell Technology Group vs. APPLE INC
Performance |
| Timeline |
| Marvell Technology |
| APPLE INC |
Marvell Technology and APPLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marvell Technology and APPLE
The main advantage of trading using opposite Marvell Technology and APPLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marvell Technology 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.| Marvell Technology vs. NVIDIA | Marvell Technology vs. Intel | Marvell Technology vs. Taiwan Semiconductor Manufacturing | Marvell Technology vs. Micron Technology |
| APPLE vs. NETGEAR | APPLE vs. Evertz Technologies Limited | APPLE vs. Northstar Clean Technologies | APPLE vs. Digi International |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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