Applied Materials, Correlations

A1MT34 Stock

BRL 101.10 0.18 0.18%

The current 90-days correlation between Applied Materials, and Deutsche Bank Aktiengesellschaft is 0.09 (i.e., Significant diversification). The correlation of Applied Materials, is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Applied Materials, Correlation With Market

Good diversification

The correlation between Applied Materials, and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Materials, and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Applied Materials, could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Applied Materials, when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Applied Materials, - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Applied Materials, to buy it.

Moving against Applied Stock

0.56	H1DB34	HDFC Bank Limited	Pair Corr
0.52	P1DT34	Prudential Financial	Pair Corr
0.52	SSFO34	salesforce inc	Pair Corr
0.49	A1LL34	Bread Financial Holdings	Pair Corr
0.49	FRIO3	Metalfrio Solutions	Pair Corr
0.44	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.43	AAPL34	Apple Inc	Pair Corr
0.36	TMCO34	Toyota Motor	Pair Corr
0.35	TSMC34	Taiwan Semiconductor	Pair Corr
0.35	S2QU34	Block Inc	Pair Corr
0.35	MSFT34	Microsoft	Pair Corr

Related Correlations Analysis

	DBAG34	B1RF34	Z1OM34	W1MG34	K1BF34	C2RS34	LEVE3
DBAG34		0.71	0.53	0.62	-0.31	-0.02	-0.58	DBAG34
B1RF34	0.71		0.4	0.44	-0.35	-0.42	-0.49	B1RF34
Z1OM34	0.53	0.4		0.8	0.3	0.43	-0.77	Z1OM34
W1MG34	0.62	0.44	0.8		0.27	0.53	-0.76	W1MG34
K1BF34	-0.31	-0.35	0.3	0.27		0.55	-0.17	K1BF34
C2RS34	-0.02	-0.42	0.43	0.53	0.55		-0.34	C2RS34
LEVE3	-0.58	-0.49	-0.77	-0.76	-0.17	-0.34		LEVE3
	DBAG34	B1RF34	Z1OM34	W1MG34	K1BF34	C2RS34	LEVE3

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

W1MG34	+ 0.8	Z1OM34
B1RF34	+ 0.71	DBAG34
W1MG34	+ 0.62	DBAG34
C2RS34	+ 0.55	K1BF34
Z1OM34	+ 0.53	DBAG34
C2RS34	+ 0.53	W1MG34

High negative correlations

LEVE3	- 0.77	Z1OM34
LEVE3	- 0.76	W1MG34
LEVE3	- 0.58	DBAG34
LEVE3	- 0.49	B1RF34
C2RS34	- 0.42	B1RF34
K1BF34	- 0.35	B1RF34

Risk-Adjusted Indicators

There is a big difference between Applied Stock performing well and Applied Materials, Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Applied Materials,'s multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DBAG34	1.17	0.24	0.13	(3.15)	1.14	(1.73)	3.12	(3.13)	10.69
B1RF34	0.01	0.00	0.00	(3.54)	0.00	0.00	0.00	0.00	0.34
Z1OM34	1.87	0.53	0.21	1.24	1.95	(2.11)	4.92	(3.44)	11.42
W1MG34	1.22	0.22	0.11	(0.51)	1.49	(1.22)	2.91	(2.16)	8.50
K1BF34	1.04	0.07	0.02	(0.66)	1.80	(2.87)	6.15	(3.05)	19.28
C2RS34	1.38	(0.04)	0.00	0.10	0.00	0.00	6.15	(6.31)	16.62
LEVE3	1.07	(0.13)	0.00	(12.87)	0.00	0.00	2.76	(2.89)	7.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in Applied Materials, without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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