Correlation Between QBE Insurance and APPLE
Specify exactly 2 symbols:
By analyzing existing cross correlation between QBE Insurance Group and APPLE INC 335, you can compare the effects of market volatilities on QBE Insurance 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 QBE Insurance with a short position of APPLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of QBE Insurance and APPLE.
Diversification Opportunities for QBE Insurance and APPLE
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between QBE and APPLE is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding QBE Insurance Group and APPLE INC 335 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APPLE INC 335 and QBE Insurance 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 QBE Insurance 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 335 has no effect on the direction of QBE Insurance i.e., QBE Insurance and APPLE go up and down completely randomly.
Pair Corralation between QBE Insurance and APPLE
Assuming the 90 days horizon QBE Insurance Group is expected to generate 15.33 times more return on investment than APPLE. However, QBE Insurance is 15.33 times more volatile than APPLE INC 335. It trades about 0.11 of its potential returns per unit of risk. APPLE INC 335 is currently generating about -0.01 per unit of risk. If you would invest 1,190 in QBE Insurance Group on January 16, 2025 and sell it today you would earn a total of 247.00 from holding QBE Insurance Group or generate 20.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
QBE Insurance Group vs. APPLE INC 335
Performance |
| Timeline |
| QBE Insurance Group |
| APPLE INC 335 |
QBE Insurance and APPLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QBE Insurance and APPLE
The main advantage of trading using opposite QBE Insurance and APPLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QBE Insurance 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 QBE Insurance Group and APPLE INC 335 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. BJs Restaurants | APPLE vs. Melco Resorts Entertainment | APPLE vs. The Wendys Co | APPLE vs. Dalata Hotel Group |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |