Correlation Between Comba Telecom and Apple
Can any of the company-specific risk be diversified away by investing in both Comba Telecom and Apple 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 Comba Telecom and Apple into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Comba Telecom Systems and Apple Inc, you can compare the effects of market volatilities on Comba Telecom 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 Comba Telecom with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of Comba Telecom and Apple.
Diversification Opportunities for Comba Telecom and Apple
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Comba and Apple is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Comba Telecom Systems and Apple Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and Comba Telecom 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 Comba Telecom Systems 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 has no effect on the direction of Comba Telecom i.e., Comba Telecom and Apple go up and down completely randomly.
Pair Corralation between Comba Telecom and Apple
Assuming the 90 days trading horizon Comba Telecom Systems is expected to generate 2.15 times more return on investment than Apple. However, Comba Telecom is 2.15 times more volatile than Apple Inc. It trades about 0.22 of its potential returns per unit of risk. Apple Inc is currently generating about 0.17 per unit of risk. If you would invest 19.00 in Comba Telecom Systems on July 27, 2025 and sell it today you would earn a total of 14.00 from holding Comba Telecom Systems or generate 73.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Comba Telecom Systems vs. Apple Inc
Performance |
| Timeline |
| Comba Telecom Systems |
| Apple Inc |
Comba Telecom and Apple Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Comba Telecom and Apple
The main advantage of trading using opposite Comba Telecom and Apple positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Comba Telecom 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.| Comba Telecom vs. Avanos Medical | Comba Telecom vs. Fresenius Medical Care | Comba Telecom vs. PULSION Medical Systems | Comba Telecom vs. Merit Medical Systems |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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