Appen Correlations

APPEF Stock

USD 1.84 0.29 18.71%

The current 90-days correlation between Appen Limited and Appen Limited is -0.04 (i.e., Good diversification). The correlation of Appen 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.

Appen Correlation With Market

Good diversification

The correlation between Appen Limited and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Appen Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Appen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Appen 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 Appen - 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 Appen Limited to buy it.

Moving against Appen Pink Sheet

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0.6	DLYT	Dais Analytic Corp	Pair Corr
0.46	ZMDTF	Zoomd Technologies	Pair Corr
0.43	OGI	OrganiGram Holdings	Pair Corr
0.42	INFY	Infosys Ltd ADR	Pair Corr
0.41	RGTI	Rigetti Computing	Pair Corr
0.66	TSLA	Tesla Inc Sell-off Trend	Pair Corr
0.5	CHHQY	China Hongqiao Group	Pair Corr
0.5	980236AN3	WPLAU 37 15	Pair Corr
0.46	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.42	TASK	Taskus Inc	Pair Corr
0.36	ANET	Arista Networks Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	APXYY	DCSX	CGEMY	QUISF	AGILW	AEXAF	DVRNF	AEXAY	CSYJF	CAPMF
APXYY		-0.03	0.64	0.68	0.0	-0.31	0.51	-0.42	-0.03	0.61	APXYY
DCSX	-0.03		-0.18	0.36	0.0	-0.47	-0.04	-0.7	0.67	-0.11	DCSX
CGEMY	0.64	-0.18		0.53	0.0	-0.33	0.85	-0.39	0.05	0.96	CGEMY
QUISF	0.68	0.36	0.53		0.0	-0.31	0.66	-0.76	0.3	0.51	QUISF
AGILW	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AGILW
AEXAF	-0.31	-0.47	-0.33	-0.31	0.0		-0.25	0.56	-0.4	-0.34	AEXAF
DVRNF	0.51	-0.04	0.85	0.66	0.0	-0.25		-0.53	0.16	0.82	DVRNF
AEXAY	-0.42	-0.7	-0.39	-0.76	0.0	0.56	-0.53		-0.56	-0.4	AEXAY
CSYJF	-0.03	0.67	0.05	0.3	0.0	-0.4	0.16	-0.56		0.12	CSYJF
CAPMF	0.61	-0.11	0.96	0.51	0.0	-0.34	0.82	-0.4	0.12		CAPMF
	APXYY	DCSX	CGEMY	QUISF	AGILW	AEXAF	DVRNF	AEXAY	CSYJF	CAPMF

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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

CAPMF	+ 0.96	CGEMY
DVRNF	+ 0.85	CGEMY
CAPMF	+ 0.82	DVRNF
QUISF	+ 0.68	APXYY
CSYJF	+ 0.67	DCSX
DVRNF	+ 0.66	QUISF

High negative correlations

AEXAY	- 0.76	QUISF
AEXAY	- 0.7	DCSX
CSYJF	- 0.56	AEXAY
AEXAY	- 0.53	DVRNF
AEXAF	- 0.47	DCSX
AEXAY	- 0.42	APXYY

Risk-Adjusted Indicators

There is a big difference between Appen Pink Sheet performing well and Appen 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 Appen'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
APXYY	4.35	0.39	0.04	(0.97)	4.98	(9.96)	16.46	(11.11)	43.68
DCSX	5.06	0.99	0.05	(0.38)	7.55	(10.20)	12.25	(10.37)	99.65
CGEMY	1.23	0.16	0.10	0.31	1.43	(1.40)	3.06	(2.43)	6.57
QUISF	2.90	0.87	0.19	(0.97)	1.93	(7.71)	8.00	(4.00)	48.72
AGILW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AEXAF	263.39	130.92	5.20	1.52	18.64	(385.46)	52.38	(38.00)	8,516
DVRNF	0.37	0.18	0.00	0.38	0.00	0.00	0.00	0.00	12.50
AEXAY	14.59	(3.92)	0.00	(0.60)	0.00	0.00	33.33	(50.00)	117.86
CSYJF	4.20	0.79	0.09	0.86	4.77	(8.50)	14.29	(9.37)	49.88
CAPMF	1.93	0.21	0.08	0.28	2.42	(1.93)	3.51	(3.84)	9.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in Appen 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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Appen Corporate Management

Ryan Kolln	VP Devel	Profile
Sujatha Sagiraju	Chief Officer	Profile
Rosalie Duff	Head Relations	Profile
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