Apple Correlations

AAPL Stock

USD 214.10 1.14 0.53%

The current 90-days correlation between Apple Inc and LG Display Co is 0.28 (i.e., Modest 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

Very weak diversification

The correlation between Apple Inc and DJI is 0.44 (i.e., Very weak 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 together with Apple Stock

0.67	HPQ	HP Inc	Pair Corr
0.68	MOVE	Movano Inc	Pair Corr
0.7	ASAN	Asana Inc	Pair Corr

Moving against Apple Stock

0.42	GB	Global Blue Group	Pair Corr
0.71	INVX	Innovex International, Symbol Change	Pair Corr
0.69	KEY-PI	KeyCorp	Pair Corr
0.69	GORO	Gold Resource	Pair Corr
0.65	KGC	Kinross Gold Aggressive Push	Pair Corr
0.52	CDR-PB	Cedar Realty Trust	Pair Corr
0.52	NVRO	Nevro Corp Sell-off Trend	Pair Corr
0.45	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.45	RKNEF	Optiva Inc	Pair Corr
0.39	FWEDF	Fireweed Zinc	Pair Corr
0.36	DNCVF	Defiance Silver Corp	Pair Corr
0.32	GCPEF	GCL Poly Energy	Pair Corr
0.32	BAOB	Baraboo Bancorporation	Pair Corr

Related Correlations Analysis

	LPL	SNEJF	SONO	VZIO	MICS	WLDSW	KOSS	GPRO	SONY
LPL		0.44	-0.28	0.0	0.0	-0.08	-0.04	-0.34	0.53	LPL
SNEJF	0.44		-0.6	0.0	0.0	0.13	-0.72	-0.63	0.89	SNEJF
SONO	-0.28	-0.6		0.0	0.0	-0.14	0.67	0.88	-0.73	SONO
VZIO	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	VZIO
MICS	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MICS
WLDSW	-0.08	0.13	-0.14	0.0	0.0		0.0	0.12	0.05	WLDSW
KOSS	-0.04	-0.72	0.67	0.0	0.0	0.0		0.56	-0.63	KOSS
GPRO	-0.34	-0.63	0.88	0.0	0.0	0.12	0.56		-0.8	GPRO
SONY	0.53	0.89	-0.73	0.0	0.0	0.05	-0.63	-0.8		SONY
	LPL	SNEJF	SONO	VZIO	MICS	WLDSW	KOSS	GPRO	SONY

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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

SONY	+ 0.89	SNEJF
GPRO	+ 0.88	SONO
KOSS	+ 0.67	SONO
GPRO	+ 0.56	KOSS
SONY	+ 0.53	LPL
SNEJF	+ 0.44	LPL

High negative correlations

SONY	- 0.8	GPRO
SONY	- 0.73	SONO
KOSS	- 0.72	SNEJF
SONY	- 0.63	KOSS
GPRO	- 0.63	SNEJF
SONO	- 0.6	SNEJF

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
LPL	1.56	0.10	0.05	0.06	2.16	(1.48)	2.75	(2.77)	10.87
SNEJF	2.58	0.42	0.11	0.30	3.26	(3.00)	6.22	(5.22)	16.45
SONO	1.76	(0.24)	0.00	(0.28)	0.00	0.00	4.86	(4.13)	14.04
VZIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MICS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WLDSW	45.65	19.93	0.80	(124.08)	18.40	(63.52)	291.30	(33.65)	371.62
KOSS	2.83	(0.71)	0.00	0.95	0.00	0.00	5.52	(6.15)	21.95
GPRO	2.91	(0.49)	0.00	(0.34)	0.00	0.00	8.99	(6.76)	29.04
SONY	1.43	0.26	0.14	0.20	1.62	(1.46)	3.22	(2.53)	10.94

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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