Apple Correlations

AAPL Stock

USD 244.60 0.00 0.00%

The current 90-days correlation between Apple Inc and D Wave Quantum is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Apple moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Apple Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Apple Correlation With Market

Modest diversification

The correlation between Apple Inc and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Apple Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving against Apple Stock

0.47	MMSI	Merit Medical Systems	Pair Corr
0.45	BMYMP	Bristol Myers Squibb	Pair Corr
0.43	INTC	Intel Aggressive Push	Pair Corr
0.56	BAC	Bank of America	Pair Corr
0.54	XOM	Exxon Mobil Corp	Pair Corr
0.53	GE	GE Aerospace Sell-off Trend	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.41	JPM	JPMorgan Chase	Pair Corr
0.41	MMM	3M Company	Pair Corr
0.39	CAT	Caterpillar Sell-off Trend	Pair Corr

Related Correlations Analysis

	QBTS	RGTI	CRCT	QUBT	IONQ	PSTG	DELL	DM	SSYS	NNDM
QBTS		0.91	0.6	0.92	0.88	0.68	-0.58	-0.71	0.1	0.79	QBTS
RGTI	0.91		0.49	0.77	0.87	0.77	-0.71	-0.85	0.21	0.76	RGTI
CRCT	0.6	0.49		0.49	0.43	0.63	-0.46	-0.43	0.09	0.5	CRCT
QUBT	0.92	0.77	0.49		0.82	0.51	-0.45	-0.58	-0.05	0.68	QUBT
IONQ	0.88	0.87	0.43	0.82		0.71	-0.57	-0.69	0.22	0.72	IONQ
PSTG	0.68	0.77	0.63	0.51	0.71		-0.83	-0.83	0.42	0.69	PSTG
DELL	-0.58	-0.71	-0.46	-0.45	-0.57	-0.83		0.84	-0.39	-0.6	DELL
DM	-0.71	-0.85	-0.43	-0.58	-0.69	-0.83	0.84		-0.19	-0.61	DM
SSYS	0.1	0.21	0.09	-0.05	0.22	0.42	-0.39	-0.19		0.51	SSYS
NNDM	0.79	0.76	0.5	0.68	0.72	0.69	-0.6	-0.61	0.51		NNDM
	QBTS	RGTI	CRCT	QUBT	IONQ	PSTG	DELL	DM	SSYS	NNDM

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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

QUBT	+ 0.92	QBTS
RGTI	+ 0.91	QBTS
IONQ	+ 0.88	QBTS
IONQ	+ 0.87	RGTI
DM	+ 0.84	DELL
IONQ	+ 0.82	QUBT

High negative correlations

DM	- 0.85	RGTI
DM	- 0.83	PSTG
DELL	- 0.83	PSTG
DELL	- 0.71	RGTI
DM	- 0.71	QBTS
DM	- 0.69	IONQ

Risk-Adjusted Indicators

There is a big difference between Apple Stock performing well and Apple 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 Apple'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
QBTS	11.32	3.24	0.26	9.30	10.46	(12.98)	27.88	(12.30)	84.86
RGTI	13.43	4.78	0.33	(3.68)	11.52	(16.22)	42.22	(20.00)	103.45
CRCT	1.97	0.10	0.04	0.34	2.41	(2.08)	5.14	(3.77)	10.12
QUBT	15.88	5.01	0.33	(1.62)	12.31	(19.75)	55.45	(27.39)	136.09
IONQ	7.03	1.14	0.11	1.00	8.96	(7.55)	16.51	(13.42)	62.59
PSTG	2.30	0.43	0.13	2.96	2.79	(2.40)	4.03	(4.82)	31.57
DELL	2.08	(0.20)	0.00	(0.76)	0.00	0.00	3.74	(4.74)	16.05
DM	4.18	(0.72)	0.00	5.17	0.00	0.00	12.64	(9.20)	33.28
SSYS	3.37	0.79	0.28	(3.03)	2.44	(4.44)	10.08	(4.95)	27.08
NNDM	2.77	0.30	0.10	(0.32)	2.73	(3.45)	8.44	(4.10)	23.92

Apple Corporate Management

Michael Fenger	VP Sales	Profile
Ron Okamoto	Head Relations	Profile
Eduardo Cue	Senior Services	Profile
Kristin Quayle	Vice Communications	Profile
Nancy Paxton	IR Contact Officer	Profile

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