APPLE HOSPITALITY Correlations

48T Stock

EUR 14.46 0.13 0.89%

The current 90-days correlation between APPLE HOSPITALITY REIT and Sterling Construction is 0.36 (i.e., Weak diversification). The correlation of APPLE HOSPITALITY 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.

APPLE HOSPITALITY Correlation With Market

Significant diversification

The correlation between APPLE HOSPITALITY REIT 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 APPLE HOSPITALITY REIT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to APPLE HOSPITALITY 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 HOSPITALITY 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 HOSPITALITY - 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 HOSPITALITY REIT to buy it.

Moving together with APPLE Stock

0.74	HBO	DiamondRock Hospitality	Pair Corr
0.76	42V	BRAEMAR HOTELS RES	Pair Corr
0.69	3J8	JPM INDIAN INVT	Pair Corr
0.82	74F	LIFE BANC SPLIT	Pair Corr
0.8	RN7	Regions Financial	Pair Corr
0.86	GTR	Goodyear Tire Rubber	Pair Corr
0.65	STD	Standard Chartered PLC	Pair Corr
0.92	BCV	CVB Financial Corp	Pair Corr
0.72	ONK	ONEOK Inc	Pair Corr
0.66	UAL1	United Airlines Holdings	Pair Corr
0.84	SC3	ScanSource	Pair Corr
0.8	AF4	Hanover Insurance Earnings Call This Week	Pair Corr
0.85	CBR	CHIBA BANK Earnings Call This Week	Pair Corr
0.86	HU3	Huntington Bancshares	Pair Corr
0.85	CUW	COLUMBIA SPORTSWEAR	Pair Corr
0.84	SOBA	ATT Inc	Pair Corr
0.65	NU42	Ribbon Communications	Pair Corr

Moving against APPLE Stock

0.74	RFC4	COPAUR MINERALS INC	Pair Corr
0.64	MCL	Sotherly Hotels	Pair Corr
0.54	VOW3	Volkswagen AG	Pair Corr
0.52	SG9	Strix Group Plc	Pair Corr
0.35	AXI	Atos SE	Pair Corr

Related Correlations Analysis

	UAO	DGD	I43	WN6	US8	GRU	DFA1	N5Z
UAO		0.41	-0.41	0.64	-0.66	0.14	0.6	0.53	UAO
DGD	0.41		0.27	-0.19	-0.43	0.56	0.06	0.68	DGD
I43	-0.41	0.27		-0.61	-0.03	0.36	-0.28	0.27	I43
WN6	0.64	-0.19	-0.61		-0.28	-0.32	0.75	-0.03	WN6
US8	-0.66	-0.43	-0.03	-0.28		-0.36	-0.45	-0.81	US8
GRU	0.14	0.56	0.36	-0.32	-0.36		0.03	0.57	GRU
DFA1	0.6	0.06	-0.28	0.75	-0.45	0.03		0.2	DFA1
N5Z	0.53	0.68	0.27	-0.03	-0.81	0.57	0.2		N5Z
	UAO	DGD	I43	WN6	US8	GRU	DFA1	N5Z

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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

DFA1	+ 0.75	WN6
N5Z	+ 0.68	DGD
WN6	+ 0.64	UAO
DFA1	+ 0.6	UAO
N5Z	+ 0.57	GRU
GRU	+ 0.56	DGD

High negative correlations

N5Z	- 0.81	US8
US8	- 0.66	UAO
WN6	- 0.61	I43
DFA1	- 0.45	US8
US8	- 0.43	DGD
I43	- 0.41	UAO

Risk-Adjusted Indicators

There is a big difference between APPLE Stock performing well and APPLE HOSPITALITY 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 HOSPITALITY'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
UAO	2.55	0.37	0.14	5.10	2.16	(3.87)	7.12	(3.21)	23.38
DGD	2.12	0.60	0.22	2.18	1.75	(3.11)	3.61	(3.49)	34.90
I43	1.25	(0.10)	0.00	(0.86)	0.00	0.00	2.53	(3.61)	11.20
WN6	1.35	0.03	0.01	0.08	1.61	(1.66)	3.25	(2.59)	10.18
US8	2.50	(0.21)	0.00	0.42	0.00	0.00	5.30	(4.91)	20.89
GRU	2.35	0.34	0.12	2.59	2.27	(3.03)	6.96	(4.27)	14.37
DFA1	1.16	0.11	0.04	2.52	1.33	(1.49)	2.51	(1.85)	8.85
N5Z	2.10	0.39	0.14	1.20	2.10	(2.80)	4.67	(3.16)	21.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in APPLE HOSPITALITY 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.

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