Correlation Between MMG and APPLE
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By analyzing existing cross correlation between MMG Limited and APPLE INC 445, you can compare the effects of market volatilities on MMG 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 MMG with a short position of APPLE. Check out your portfolio center. Please also check ongoing floating volatility patterns of MMG and APPLE.
Diversification Opportunities for MMG and APPLE
Pay attention - limited upside
The 3 months correlation between MMG and APPLE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MMG Limited and APPLE INC 445 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APPLE INC 445 and MMG 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 MMG Limited 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 445 has no effect on the direction of MMG i.e., MMG and APPLE go up and down completely randomly.
Pair Corralation between MMG and APPLE
If you would invest (100.00) in APPLE INC 445 on September 12, 2025 and sell it today you would earn a total of 100.00 from holding APPLE INC 445 or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
MMG Limited vs. APPLE INC 445
Performance |
| Timeline |
| MMG Limited |
| APPLE INC 445 |
Risk-Adjusted Performance
Weakest
Weak | Strong |
MMG and APPLE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MMG and APPLE
The main advantage of trading using opposite MMG and APPLE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MMG 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.| MMG vs. Capstone Copper Corp | MMG vs. Brenntag AG ADR | MMG vs. Evonik Industries AG | MMG vs. Evonik Industries AG |
| APPLE vs. Kimball Electronics | APPLE vs. Pekin Life Insurance | APPLE vs. United Microelectronics | APPLE vs. Jaco Electronics |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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