Correlation Between Apollo Global and Banco Bradesco
Can any of the company-specific risk be diversified away by investing in both Apollo Global and Banco Bradesco 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 Apollo Global and Banco Bradesco into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apollo Global Management and Banco Bradesco SA, you can compare the effects of market volatilities on Apollo Global and Banco Bradesco 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 Apollo Global with a short position of Banco Bradesco. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Global and Banco Bradesco.
Diversification Opportunities for Apollo Global and Banco Bradesco
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Apollo and Banco is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Global Management and Banco Bradesco SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Banco Bradesco SA and Apollo Global 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 Apollo Global Management are associated (or correlated) with Banco Bradesco. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Banco Bradesco SA has no effect on the direction of Apollo Global i.e., Apollo Global and Banco Bradesco go up and down completely randomly.
Pair Corralation between Apollo Global and Banco Bradesco
Considering the 90-day investment horizon Apollo Global is expected to generate 1.1 times less return on investment than Banco Bradesco. In addition to that, Apollo Global is 1.05 times more volatile than Banco Bradesco SA. It trades about 0.07 of its total potential returns per unit of risk. Banco Bradesco SA is currently generating about 0.08 per unit of volatility. If you would invest 306.00 in Banco Bradesco SA on September 10, 2025 and sell it today you would earn a total of 28.00 from holding Banco Bradesco SA or generate 9.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Apollo Global Management vs. Banco Bradesco SA
Performance |
| Timeline |
| Apollo Global Management |
| Banco Bradesco SA |
Apollo Global and Banco Bradesco Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apollo Global and Banco Bradesco
The main advantage of trading using opposite Apollo Global and Banco Bradesco positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Global position performs unexpectedly, Banco Bradesco 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 Banco Bradesco will offset losses from the drop in Banco Bradesco's long position.| Apollo Global vs. Carlyle Group | Apollo Global vs. Blackstone Group | Apollo Global vs. Brookfield Asset Management | Apollo Global vs. Ares Management LP |
| Banco Bradesco vs. Banco Santander Brasil | Banco Bradesco vs. Banco Macro SA | Banco Bradesco vs. Lloyds Banking Group | Banco Bradesco vs. Grupo Financiero Galicia |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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