Apple Correlations

Stocks . Germany . 
Stock . Apple Inc
APC Stock  EUR 235.00  0.25  0.11%   
The current 90-days correlation between Apple Inc and CENTURIA OFFICE REIT is 0.07 (i.e., Significant diversification). The correlation of Apple 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.

Apple Correlation With Market

Significant diversification

The correlation between Apple Inc and DJI is 0.01 (i.e., Significant 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.
  
The ability to find closely correlated positions to Apple could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Apple 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 Apple - 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 Apple Inc to buy it.

Moving together with Apple Stock

  0.98APC Apple IncPairCorr
  0.99APC Apple IncPairCorr
  0.98APC Apple IncPairCorr
  0.97APC Apple IncPairCorr
  0.98APC Apple IncPairCorr

Moving against Apple Stock

  0.39PQ9 BANK MANDIRIPairCorr
  0.38PQ9 BANK MANDIRIPairCorr
  0.37BYRA PT Bank RakyatPairCorr

Related Correlations Analysis

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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   
T7W
+ 0.83
AOX
FOO0
+ 0.58
AOX
MNL
+ 0.56
AOX
FOO0
+ 0.56
MNL
T7W
+ 0.5
MNL
FOO0
+ 0.5
T7W
  
High negative correlations   
ITB
- 0.45
AOX
ITB
- 0.41
T7W
AOX
- 0.33
47X
FOO0
- 0.19
47X
T7W
- 0.16
47X
MNL
- 0.14
47X

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Apple 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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