Correlation Between Apple and United Internet
Can any of the company-specific risk be diversified away by investing in both Apple and United Internet 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 United Internet into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apple Inc and United Internet AG, you can compare the effects of market volatilities on Apple and United Internet 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 United Internet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apple and United Internet.
Diversification Opportunities for Apple and United Internet
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Apple and United is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and United Internet AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on United Internet AG 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 are associated (or correlated) with United Internet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United Internet AG has no effect on the direction of Apple i.e., Apple and United Internet go up and down completely randomly.
Pair Corralation between Apple and United Internet
If you would invest 26,943 in Apple Inc on September 11, 2025 and sell it today you would earn a total of 775.00 from holding Apple Inc or generate 2.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apple Inc vs. United Internet AG
Performance |
| Timeline |
| Apple Inc |
| United Internet AG |
Apple and United Internet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apple and United Internet
The main advantage of trading using opposite Apple and United Internet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apple position performs unexpectedly, United Internet 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 United Internet will offset losses from the drop in United Internet's long position.The idea behind Apple Inc and United Internet AG 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.| United Internet vs. Medley Management | United Internet vs. Safeplus International Holdings | United Internet vs. Sysorex | United Internet vs. Beneficial Holdings |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |