Apple Correlations
| APC Stock | EUR 158.92 2.08 1.33% |
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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between Apple Inc and NYA is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apple Inc and NYA in the same portfolio, assuming nothing else is changed.
Apple |
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
| 0.99 | APC | Apple Inc Earnings Call This Week | PairCorr |
| 0.99 | APC | Apple Inc Earnings Call This Week | PairCorr |
| 0.98 | APC | Apple Inc Earnings Call This Week | PairCorr |
| 0.99 | APC | Apple Inc Earnings Call This Week | PairCorr |
| 0.98 | APC | Apple Inc Earnings Call This Week | PairCorr |
| 0.8 | SI8 | Misen Energy AB | PairCorr |
| 0.88 | DBPD | Xtrackers ShortDAX | PairCorr |
Moving against Apple Stock
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APC | 0.99 | (0.18) | 0.00 | 2.12 | 0.00 | 1.89 | 6.18 | |||
| APC | 0.95 | (0.19) | 0.00 | (1.81) | 0.00 | 1.61 | 5.44 | |||
| APC | 0.95 | (0.19) | 0.00 | 3.24 | 0.00 | 1.59 | 6.44 | |||
| APC | 0.91 | (0.16) | 0.00 | 0.80 | 0.00 | 1.56 | 8.78 | |||
| APC | 0.96 | (0.18) | 0.00 | (8.06) | 0.00 | 2.02 | 6.45 | |||
| MSF | 1.01 | 0.04 | (0.02) | 0.34 | 1.26 | 2.62 | 6.57 | |||
| MSF | 1.03 | 0.03 | (0.03) | 0.30 | 1.20 | 2.65 | 6.15 | |||
| MSF | 0.97 | 0.03 | (0.02) | 0.26 | 1.21 | 2.34 | 7.16 | |||
| MSF | 1.03 | 0.06 | (0.02) | (0.81) | 1.36 | 2.64 | 6.67 |
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.Did you try this?
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Already Invested in Apple Inc?
The danger of trading Apple Inc is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Apple is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Apple. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Apple Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Apple Inc is a strong investment it is important to analyze Apple's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Apple's future performance. For an informed investment choice regarding Apple Stock, refer to the following important reports: 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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Note that the Apple Inc information on this page should be used as a complementary analysis to other Apple's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Complementary Tools for Apple Stock analysis
When running Apple's price analysis, check to measure Apple's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Apple is operating at the current time. Most of Apple's value examination focuses on studying past and present price action to predict the probability of Apple's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Apple's price. Additionally, you may evaluate how the addition of Apple to your portfolios can decrease your overall portfolio volatility.
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