Apple Inc. vs SPDR S&P 500 ETF

The price ratio is currently above its 50-day moving average, indicating AAPL has been gaining relative ground recently. The ratio is near its 50-day average, suggesting no significant relative extension. The z-score of 0.96 indicates the ratio is within its normal historical range.

Performance is mixed across timeframes, with no clear consistent leader between AAPL and SPY. Watch for a breakout in relative momentum.

These two assets have a moderate positive long-term correlation of 0.77. The shorter-term correlation has weakened to 0.40, indicating the assets are diverging from their usual relationship — this can present relative-value opportunities. High correlation means these assets offer limited diversification benefit when held together.

AAPL has a stronger flow score (73/100 vs 50/100), indicating more consistent accumulation pressure. However, Chaikin Money Flow tells a different story — AAPL shows net outflow (-0.01) despite its higher flow score, suggesting the capital picture is more nuanced.

Both assets show similar trend momentum (66/100 vs 60/100), indicating neither has a clear directional edge. SPY carries a better risk profile (71/100 vs 45/100), with lower overall risk metrics. AAPL is 2.5x more volatile than SPY on a 21-day basis (31.1% vs 12.6%), which means larger price swings in either direction. AAPL has experienced a deeper maximum drawdown over the past year (28.7% vs 16.2%), indicating higher tail risk.

AAPL is currently gaining ground against SPY, with the price ratio at 0.40 versus its 50-day average of 0.39. The 200-day z-score of 0.96 is within normal bounds, suggesting AAPL may be stretched relative to SPY. On a flow basis, AAPL shows stronger capital accumulation (73 vs 50). SPY carries lower short-term volatility (+12.6% vs +31.1% 21-day), with max drawdowns of -28.7% and -16.2% respectively. With a 63-day correlation of 0.40, these assets show moderate co-movement — offering diversification value. Monitor the ratio trend and flow divergence for early signals of a shift in relative leadership.