Apollo Commercial Correlations

Stocks . USA . 
Stock . Apollo Commercial Real
ARI Stock  USD 9.86  0.01  0.10%   
The current 90-days correlation between Apollo Commercial Real and PennyMac Mortgage Investment is 0.44 (i.e., Very weak diversification). The correlation of Apollo Commercial 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.

Apollo Commercial Correlation With Market

Weak diversification

The correlation between Apollo Commercial Real and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Commercial Real 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 Apollo Commercial Real. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Apollo Stock

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  0.8DMYY dMY Squared TechnologyPairCorr
  0.88DOMH Dominari Holdings Earnings Call This WeekPairCorr
  0.63GCMGW GCM GrosvenorPairCorr
  0.61WSBF Waterstone FinancialPairCorr

Moving against Apollo Stock

  0.8LC LendingClub CorpPairCorr
  0.74BX Blackstone GroupPairCorr
  0.63DHIL Diamond Hill InvestmentPairCorr
  0.58CG Carlyle Group Normal TradingPairCorr
  0.54PX P10 IncPairCorr
  0.53MC Moelis Normal TradingPairCorr
  0.5SF Stifel FinancialPairCorr
  0.32BN Brookfield CorpPairCorr
  0.32RM Regional Management Corp Normal TradingPairCorr
  0.87VRTS Virtus InvestmentPairCorr
  0.79WD Walker DunlopPairCorr
  0.78WULF Terawulf Aggressive PushPairCorr
  0.74WT WisdomTreePairCorr
  0.71LGHLW Lion Financial GroupPairCorr
  0.71BLK BlackRockPairCorr
  0.63ABR Arbor Realty Trust Sell-off TrendPairCorr
  0.53ECPG Encore Capital GroupPairCorr
  0.47AMP Ameriprise FinancialPairCorr
  0.47AXP American ExpressPairCorr

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   
BXMT
+ 0.94
PMT
STWD
+ 0.93
PMT
STWD
+ 0.93
BXMT
LADR
+ 0.76
PMT
LADR
+ 0.73
STWD
LADR
+ 0.72
BXMT
  
High negative correlations   
BXMT
- 0.73
ACRE
PMT
- 0.71
ACRE
LADR
- 0.61
ACRE
STWD
- 0.61
ACRE

Risk-Adjusted Indicators

There is a big difference between Apollo Stock performing well and Apollo Commercial 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 Apollo Commercial'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.

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