Apple Correlations

AAPL Stock

USD 274.61 0.50 0.18%

The current 90-days correlation between Apple Inc and Alphabet Inc Class A is 0.31 (i.e., Weak 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

Very weak diversification

The correlation between Apple Inc and DJI is 0.48 (i.e., Very weak 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.

Build AI portfolio with Apple Stock

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 employment.

Moving together with Apple Stock

0.73	PPERY	Bank Mandiri Persero	Pair Corr
0.68	PBCRY	Bank Central Asia	Pair Corr
0.84	JBHT	JB Hunt Transport	Pair Corr
0.89	NHIC	NewHold Investment Corp	Pair Corr
0.74	MTC	MMTEC Inc Tech Boost	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr
0.91	IBM	International Business Sell-off Trend	Pair Corr
0.81	KO	Coca Cola Aggressive Push	Pair Corr
0.78	MRK	Merck Company Aggressive Push	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.83	AXP	American Express	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.72	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.84	MMM	3M Company	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Apple Stock

0.45	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.36	BKRKY	Bank Rakyat	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.63	BA	Boeing	Pair Corr
0.53	MSFT	Microsoft	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	GOOGL	NVDA	MSFT	SONY	TBCH	NXT	META	TSM	RIME
GOOGL		0.02	-0.77	-0.25	-0.53	0.44	-0.74	0.28	-0.76	GOOGL
NVDA	0.02		0.46	0.13	0.47	0.62	-0.23	0.55	0.16	NVDA
MSFT	-0.77	0.46		0.34	0.8	-0.04	0.64	0.11	0.68	MSFT
SONY	-0.25	0.13	0.34		0.0	-0.21	0.01	0.15	0.19	SONY
TBCH	-0.53	0.47	0.8	0.0		0.13	0.59	0.26	0.62	TBCH
NXT	0.44	0.62	-0.04	-0.21	0.13		-0.54	0.47	-0.37	NXT
META	-0.74	-0.23	0.64	0.01	0.59	-0.54		-0.25	0.62	META
TSM	0.28	0.55	0.11	0.15	0.26	0.47	-0.25		-0.01	TSM
RIME	-0.76	0.16	0.68	0.19	0.62	-0.37	0.62	-0.01		RIME
	GOOGL	NVDA	MSFT	SONY	TBCH	NXT	META	TSM	RIME

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

TBCH	+ 0.8	MSFT
RIME	+ 0.68	MSFT
META	+ 0.64	MSFT
NXT	+ 0.62	NVDA
RIME	+ 0.62	TBCH
RIME	+ 0.62	META

High negative correlations

MSFT	- 0.77	GOOGL
RIME	- 0.76	GOOGL
META	- 0.74	GOOGL
META	- 0.54	NXT
TBCH	- 0.53	GOOGL
RIME	- 0.37	NXT

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
GOOGL	1.46	0.31	0.21	0.40	1.12	(1.74)	3.60	(2.29)	8.74
NVDA	1.82	(0.06)	(0.03)	0.00	2.26	(1.89)	3.49	(3.65)	9.37
MSFT	0.95	(0.16)	0.00	(0.16)	0.00	0.00	1.85	(2.50)	5.08
SONY	1.38	(0.17)	0.00	(0.06)	0.00	0.00	3.13	(2.79)	9.26
TBCH	1.96	(0.18)	0.00	(0.01)	0.00	0.00	4.90	(3.79)	13.97
NXT	2.92	0.29	0.10	0.21	3.47	(3.15)	6.82	(5.95)	20.86
META	1.38	(0.29)	0.00	(0.23)	0.00	0.00	2.26	(2.72)	13.52
TSM	1.73	0.07	0.05	0.13	1.94	(1.91)	3.50	(2.90)	12.12
RIME	4.53	(0.29)	0.00	(0.24)	0.00	0.00	8.96	(15.79)	45.04

Apple Corporate Management

Ron Okamoto	Head Relations	Profile
Matthew Cherniss	Head TV	Profile
Jennifer Bailey	Vice Pay	Profile
Eduardo Cue	Senior Services	Profile
Jeffrey Williams	Chief Officer	Profile

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