Correlation Between Apple and Marula Mining
Can any of the company-specific risk be diversified away by investing in both Apple and Marula Mining 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 Marula Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apple Inc and Marula Mining PLC, you can compare the effects of market volatilities on Apple and Marula Mining 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 Marula Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apple and Marula Mining.
Diversification Opportunities for Apple and Marula Mining
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Apple and Marula is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and Marula Mining PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marula Mining PLC 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 Marula Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marula Mining PLC has no effect on the direction of Apple i.e., Apple and Marula Mining go up and down completely randomly.
Pair Corralation between Apple and Marula Mining
If you would invest 19,441 in Apple Inc on August 22, 2025 and sell it today you would earn a total of 3,974 from holding Apple Inc or generate 20.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apple Inc vs. Marula Mining PLC
Performance |
| Timeline |
| Apple Inc |
| Marula Mining PLC |
Apple and Marula Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apple and Marula Mining
The main advantage of trading using opposite Apple and Marula Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apple position performs unexpectedly, Marula Mining 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 Marula Mining will offset losses from the drop in Marula Mining's long position.The idea behind Apple Inc and Marula Mining PLC 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.| Marula Mining vs. Strategic Investments AS | Marula Mining vs. CDN IMPERIAL BANK | Marula Mining vs. National Bank Holdings | Marula Mining vs. Japan Asia Investment |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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