Apple Correlations

AAPL Stock

USD 217.96 0.47 0.22%

The current 90-days correlation between Apple Inc and LG Display Co is 0.19 (i.e., Average 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

Modest diversification

The correlation between Apple Inc and DJI is 0.28 (i.e., Modest 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

0.75	KN	Knowles Cor	Pair Corr
0.88	EXTR	Extreme Networks Fiscal Year End 7th of August 2024	Pair Corr
0.86	HPQ	HP Inc Fiscal Year End 19th of November 2024	Pair Corr
0.95	STX	Seagate Technology PLC Sell-off Trend	Pair Corr
0.73	HLIT	Harmonic	Pair Corr
0.83	JNPR	Juniper Networks Sell-off Trend	Pair Corr
0.95	NTAP	NetApp Inc	Pair Corr
0.77	PSTG	Pure Storage	Pair Corr
0.92	ANET	Arista Networks	Pair Corr
0.77	CLFD	Clearfield Fiscal Year End 14th of November 2024	Pair Corr
0.81	CMTL	Comtech Telecommunicatio Tech Boost	Pair Corr
0.64	EXLS	ExlService Holdings	Pair Corr
0.64	CAN	Canaan Inc	Pair Corr

Moving against Apple Stock

0.89	MYNA	Mynaric AG ADR	Pair Corr
0.82	AVNW	Aviat Networks Fiscal Year End 28th of August 2024	Pair Corr
0.8	DM	Desktop Metal	Pair Corr
0.8	QBTS	DPCM Capital	Pair Corr
0.68	NTCT	NetScout Systems Tech Boost	Pair Corr
0.67	KVHI	KVH Industries	Pair Corr
0.66	SSYS	Stratasys	Pair Corr
0.42	IONQ	IONQ Inc Tech Boost	Pair Corr
0.74	WU	Western Union	Pair Corr
0.72	DGII	Digi International Fiscal Year End 14th of November 2024	Pair Corr
0.67	JG	Aurora Mobile	Pair Corr
0.53	CRM	Salesforce	Pair Corr
0.42	ENV	Envestnet	Pair Corr
0.4	ITRN	Ituran Location	Pair Corr
0.37	JAMF	Jamf Holding	Pair Corr

Related Correlations Analysis

	LPL	SNEJF	SONO	VZIO	MICS	WLDSW	KOSS	GPRO	SONY
LPL		0.72	-0.42	0.45	-0.67	-0.24	0.67	0.22	0.72	LPL
SNEJF	0.72		-0.6	0.79	-0.28	-0.58	0.72	0.05	0.98	SNEJF
SONO	-0.42	-0.6		-0.67	0.09	0.79	-0.69	0.64	-0.59	SONO
VZIO	0.45	0.79	-0.67		-0.15	-0.62	0.56	-0.19	0.8	VZIO
MICS	-0.67	-0.28	0.09	-0.15		-0.01	-0.22	-0.37	-0.24	MICS
WLDSW	-0.24	-0.58	0.79	-0.62	-0.01		-0.6	0.49	-0.56	WLDSW
KOSS	0.67	0.72	-0.69	0.56	-0.22	-0.6		-0.2	0.73	KOSS
GPRO	0.22	0.05	0.64	-0.19	-0.37	0.49	-0.2		0.05	GPRO
SONY	0.72	0.98	-0.59	0.8	-0.24	-0.56	0.73	0.05		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	+ 0.98	SNEJF
SONY	+ 0.8	VZIO
VZIO	+ 0.79	SNEJF
WLDSW	+ 0.79	SONO
SONY	+ 0.73	KOSS
SNEJF	+ 0.72	LPL

High negative correlations

KOSS	- 0.69	SONO
VZIO	- 0.67	SONO
MICS	- 0.67	LPL
WLDSW	- 0.62	VZIO
KOSS	- 0.6	WLDSW
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	2.21	0.13	0.05	0.19	2.65	(2.41)	4.98	(4.35)	13.76
SNEJF	1.52	0.09	0.03	0.25	1.83	(2.06)	3.65	(3.69)	11.25
SONO	1.64	(0.41)	0.00	(0.30)	0.00	0.00	3.46	(3.62)	10.91
VZIO	0.49	0.01	(0.04)	0.13	0.62	(0.54)	0.93	(1.10)	2.32
MICS	5.93	(0.19)	0.00	0.16	0.00	0.00	18.39	(9.24)	44.72
WLDSW	9.89	(0.41)	0.00	(0.42)	0.00	0.00	24.75	(26.00)	83.83
KOSS	9.31	3.30	0.43	1.81	5.92	(12.53)	29.71	(15.42)	165.23
GPRO	2.87	(0.12)	0.00	(0.03)	0.00	0.00	7.89	(6.33)	15.33
SONY	1.37	0.05	0.02	0.12	1.70	(1.46)	2.98	(2.88)	9.55

Apple Corporate Executives

Elected by the shareholders, the Apple's board of directors comprises two types of representatives: Apple inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Apple. The board's role is to monitor Apple's management team and ensure that shareholders' interests are well served. Apple's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Apple's outside directors are responsible for providing unbiased perspectives on the board's policies.

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