Correlation Between Apple and Corsair Gaming
Can any of the company-specific risk be diversified away by investing in both Apple and Corsair Gaming 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 Apple and Corsair Gaming into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apple Inc CDR and Corsair Gaming, you can compare the effects of market volatilities on Apple and Corsair Gaming 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 Apple with a short position of Corsair Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apple and Corsair Gaming.
Diversification Opportunities for Apple and Corsair Gaming
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Apple and Corsair is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc CDR and Corsair Gaming in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corsair Gaming and Apple 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 Apple Inc CDR are associated (or correlated) with Corsair Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corsair Gaming has no effect on the direction of Apple i.e., Apple and Corsair Gaming go up and down completely randomly.
Pair Corralation between Apple and Corsair Gaming
Assuming the 90 days trading horizon Apple Inc CDR is expected to generate 0.45 times more return on investment than Corsair Gaming. However, Apple Inc CDR is 2.24 times less risky than Corsair Gaming. It trades about 0.17 of its potential returns per unit of risk. Corsair Gaming is currently generating about -0.12 per unit of risk. If you would invest 3,356 in Apple Inc CDR on August 14, 2025 and sell it today you would earn a total of 584.00 from holding Apple Inc CDR or generate 17.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.88% |
| Values | Daily Returns |
Apple Inc CDR vs. Corsair Gaming
Performance |
| Timeline |
| Apple Inc CDR |
| Corsair Gaming |
Apple and Corsair Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apple and Corsair Gaming
The main advantage of trading using opposite Apple and Corsair Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apple position performs unexpectedly, Corsair Gaming 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 Corsair Gaming will offset losses from the drop in Corsair Gaming's long position.| Apple vs. Yorbeau Resources | Apple vs. Gunnison Copper Corp | Apple vs. iShares Canadian HYBrid | Apple vs. European Residential Real |
| Corsair Gaming vs. Stratasys | Corsair Gaming vs. Alpha and Omega | Corsair Gaming vs. ADTRAN Inc | Corsair Gaming vs. Yimutian American Depositary |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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