Correlation Between FRACTAL GAMING and Apple

Can any of the company-specific risk be diversified away by investing in both FRACTAL GAMING 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 FRACTAL GAMING and Apple into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between FRACTAL GAMING GROUP and Apple Inc, you can compare the effects of market volatilities on FRACTAL GAMING 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 FRACTAL GAMING with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of FRACTAL GAMING and Apple.

Diversification Opportunities for FRACTAL GAMING and Apple

-0.11

Correlation Coefficient

FRACTAL GAMING  Apple

Good diversification

The 3 months correlation between FRACTAL and Apple is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding FRACTAL GAMING GROUP and Apple Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and FRACTAL GAMING 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 FRACTAL GAMING GROUP 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 FRACTAL GAMING i.e., FRACTAL GAMING and Apple go up and down completely randomly.

Pair Corralation between FRACTAL GAMING and Apple

Assuming the 90 days horizon FRACTAL GAMING GROUP is expected to generate 0.95 times more return on investment than Apple. However, FRACTAL GAMING GROUP is 1.05 times less risky than Apple. It trades about 0.3 of its potential returns per unit of risk. Apple Inc is currently generating about 0.04 per unit of risk. If you would invest  294.00  in FRACTAL GAMING GROUP on April 20, 2025 and sell it today you would earn a total of  102.00  from holding FRACTAL GAMING GROUP or generate 34.69% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

FRACTAL GAMING GROUP  vs.  Apple Inc

FRACTAL GAMING GROUP

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in FRACTAL GAMING GROUP are ranked lower than 23 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, FRACTAL GAMING reported solid returns over the last few months and may actually be approaching a breakup point.

Apple Inc

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable fundamental indicators, Apple is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with FRACTAL GAMING and Apple

The main advantage of trading using opposite FRACTAL GAMING and Apple positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FRACTAL GAMING 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.

The idea behind FRACTAL GAMING GROUP and Apple Inc 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.

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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.