Correlation Analysis Between LG Display and Apple

This module allows you to analyze existing cross correlation between LG Display Co Ltd AMERICAN DEP and Apple. You can compare the effects of market volatilities on LG Display 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 LG Display with a short position of Apple. See also your portfolio center. Please also check ongoing floating volatility patterns of LG Display and Apple.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

LG Display  
00

Risk-Adjusted Performance

Over the last 30 days LG Display Co Ltd AMERICAN DEP has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest conflicting performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.
Apple  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Even with considerably sluggish technical indicators, Apple may actually be approaching a critical reversion point that can send shares even higher in October 2019.

LG Display and Apple Volatility Contrast

 Predicted Return Density 
      Returns 

LG Display Co Ltd AMERICAN DEP  vs.  Apple Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, LG Display Co Ltd AMERICAN DEP is expected to under-perform the Apple. In addition to that, LG Display is 1.63 times more volatile than Apple. It trades about -0.05 of its total potential returns per unit of risk. Apple is currently generating about 0.1 per unit of volatility. If you would invest  19,315  in Apple on August 16, 2019 and sell it today you would earn a total of  2,126  from holding Apple or generate 11.01% return on investment over 30 days.

Pair Corralation between LG Display and Apple

0.84
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for LG Display and Apple

LG Display Co Ltd AMERICAN DEP diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding LG Display Co Ltd AMERICAN DEP and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple and LG Display 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 LG Display Co Ltd AMERICAN DEP 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 has no effect on the direction of LG Display i.e. LG Display and Apple go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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