Applied Digital Correlations

APLD Stock

USD 26.53 0.06 0.23%

The current 90-days correlation between Applied Digital and Marathon Digital Holdings is 0.19 (i.e., Average diversification). The correlation of Applied Digital 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.

Applied Digital Correlation With Market

Significant diversification

The correlation between Applied Digital and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Digital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Applied Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Applied Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Applied Stock refer to our How to Trade Applied Stock guide.

Moving together with Applied Stock

0.76	U	Unity Software	Pair Corr
0.85	WK	Workiva	Pair Corr
0.71	ZD	Ziff Davis	Pair Corr
0.84	VMEO	Vimeo Inc Sell-off Trend	Pair Corr
0.91	OTEX	Open Text Corp	Pair Corr

Moving against Applied Stock

0.79	DV	DoubleVerify Holdings	Pair Corr
0.77	JG	Aurora Mobile	Pair Corr
0.68	DT	Dynatrace Holdings LLC	Pair Corr
0.68	VS	Versus Systems	Pair Corr
0.65	QH	Quhuo Trending	Pair Corr
0.59	DMRC	Digimarc	Pair Corr
0.41	BL	Blackline	Pair Corr
0.38	MQ	Marqeta	Pair Corr
0.77	VERX	Vertex	Pair Corr
0.68	VTEX	VTEX	Pair Corr
0.64	EXFY	Expensify	Pair Corr
0.6	DSGX	Descartes Systems	Pair Corr
0.59	KELLTONTEC	Kellton Tech Solutions Split	Pair Corr
0.47	WALD	Waldencast Acquisition Earnings Call This Week	Pair Corr
0.41	VRNT	Verint Systems Sell-off Trend	Pair Corr
0.75	CXM	Sprinklr	Pair Corr
0.71	CRM	Salesforce	Pair Corr
0.67	BSY	Bentley Systems	Pair Corr
0.57	CALSOFT	California Software	Pair Corr
0.56	FIVN	Five9 Inc	Pair Corr
0.49	FATN	FatPipe, Common Stock	Pair Corr

Related Correlations Analysis

	NCPL	TOP	MARA	RIOT	ILAG	SIDU	GFAI	HTCR
NCPL		0.01	0.34	-0.37	-0.3	0.61	0.2	-0.53	NCPL
TOP	0.01		0.31	0.61	0.52	-0.02	0.04	0.33	TOP
MARA	0.34	0.31		0.35	0.11	0.56	0.6	-0.21	MARA
RIOT	-0.37	0.61	0.35		0.69	-0.32	0.01	0.59	RIOT
ILAG	-0.3	0.52	0.11	0.69		-0.38	-0.19	0.52	ILAG
SIDU	0.61	-0.02	0.56	-0.32	-0.38		0.69	-0.49	SIDU
GFAI	0.2	0.04	0.6	0.01	-0.19	0.69		-0.31	GFAI
HTCR	-0.53	0.33	-0.21	0.59	0.52	-0.49	-0.31		HTCR
	NCPL	TOP	MARA	RIOT	ILAG	SIDU	GFAI	HTCR

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

ILAG	+ 0.69	RIOT
GFAI	+ 0.69	SIDU
SIDU	+ 0.61	NCPL
RIOT	+ 0.61	TOP
GFAI	+ 0.6	MARA
HTCR	+ 0.59	RIOT

High negative correlations

HTCR	- 0.53	NCPL
HTCR	- 0.49	SIDU
SIDU	- 0.38	ILAG
RIOT	- 0.37	NCPL
SIDU	- 0.32	RIOT
HTCR	- 0.31	GFAI

Risk-Adjusted Indicators

There is a big difference between Applied Stock performing well and Applied Digital 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 Applied Digital'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
NCPL	5.41	(1.39)	0.00	0.73	0.00	0.00	9.05	(20.71)	36.98
TOP	2.85	0.31	0.04	(0.23)	4.31	(3.75)	4.65	(4.96)	70.82
MARA	2.83	0.28	0.08	0.30	3.50	(3.01)	6.69	(5.46)	25.00
RIOT	3.44	0.77	0.18	0.37	4.11	(3.82)	8.25	(6.27)	26.00
ILAG	4.71	0.40	0.10	0.15	5.10	(6.89)	7.84	(7.41)	85.99
SIDU	3.72	(0.47)	0.00	(0.32)	0.00	0.00	6.56	(5.13)	54.72
GFAI	2.97	0.02	0.02	0.07	3.43	(3.42)	6.61	(5.93)	24.88
HTCR	6.87	1.91	0.23	(0.76)	6.35	(9.03)	17.74	(9.30)	96.91

Applied Digital Corporate Management

Regina Ingel	Chief Officer	Profile
Michael Maniscalco	Ex Technology	Profile
Laura Laltrello	Chief Officer	Profile
David Rench	Chief Officer	Profile
Chris Jackson	Senior Operations	Profile
Nick Phillips	Executive Acquisitions	Profile
Saidal Mohmand	Ex Fin	Profile

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