Applied Opt Correlations

AAOI Stock

USD 39.26 2.22 5.99%

The current 90-days correlation between Applied Opt and Daqo New Energy is 0.32 (i.e., Weak diversification). The correlation of Applied Opt 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 Opt Correlation With Market

Weak diversification

The correlation between Applied Opt and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Opt 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 Opt. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more detail on how to invest in Applied Stock please use our How to Invest in Applied Opt guide.

Moving together with Applied Stock

0.68	300213	Beijing Jiaxun Feihong	Pair Corr
0.69	TSAT	Telesat Corp	Pair Corr
0.71	601869	Yangtze Optical Fibre	Pair Corr
0.63	GILT	Gilat Satellite Networks Tech Boost	Pair Corr
0.65	FTC	Filtronic	Pair Corr

Moving against Applied Stock

0.46	002861	Hubei Yingtong Telec	Pair Corr
0.39	OCC	Optical Cable	Pair Corr
0.33	FKWL	Franklin Wireless Corp	Pair Corr
0.63	002369	Shenzhen Zowee Tech	Pair Corr
0.45	300250	Hangzhou CNCR IT	Pair Corr
0.31	300081	Hengxin Mobile Business	Pair Corr

Related Correlations Analysis

	DQ	KLIC	VSH	MXL	VECO	PGY	POWI	LASR	UCTT	SONO
DQ		-0.29	-0.53	-0.29	-0.16	-0.28	-0.67	-0.15	-0.63	0.47	DQ
KLIC	-0.29		0.36	0.8	0.82	-0.32	0.16	0.91	0.69	0.27	KLIC
VSH	-0.53	0.36		0.59	0.48	0.55	0.9	0.36	0.75	-0.14	VSH
MXL	-0.29	0.8	0.59		0.72	0.01	0.44	0.76	0.57	0.4	MXL
VECO	-0.16	0.82	0.48	0.72		-0.01	0.27	0.77	0.74	0.14	VECO
PGY	-0.28	-0.32	0.55	0.01	-0.01		0.69	-0.3	0.21	-0.19	PGY
POWI	-0.67	0.16	0.9	0.44	0.27	0.69		0.13	0.66	-0.33	POWI
LASR	-0.15	0.91	0.36	0.76	0.77	-0.3	0.13		0.64	0.26	LASR
UCTT	-0.63	0.69	0.75	0.57	0.74	0.21	0.66	0.64		-0.3	UCTT
SONO	0.47	0.27	-0.14	0.4	0.14	-0.19	-0.33	0.26	-0.3		SONO
	DQ	KLIC	VSH	MXL	VECO	PGY	POWI	LASR	UCTT	SONO

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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

LASR	+ 0.91	KLIC
POWI	+ 0.9	VSH
VECO	+ 0.82	KLIC
MXL	+ 0.8	KLIC
LASR	+ 0.77	VECO
LASR	+ 0.76	MXL

High negative correlations

POWI	- 0.67	DQ
UCTT	- 0.63	DQ
VSH	- 0.53	DQ
SONO	- 0.33	POWI
PGY	- 0.32	KLIC
SONO	- 0.3	UCTT

Risk-Adjusted Indicators

There is a big difference between Applied Stock performing well and Applied Opt 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 Opt'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
DQ	2.94	(0.08)	(0.02)	0.00	3.79	(3.47)	8.89	(6.41)	25.47
KLIC	1.93	0.41	0.22	0.30	1.67	(2.03)	4.84	(3.47)	12.80
VSH	2.24	0.02	0.06	0.10	2.40	(2.49)	6.17	(4.05)	11.05
MXL	2.87	0.08	0.04	0.13	3.74	(3.06)	6.20	(6.25)	15.25
VECO	1.88	0.12	0.09	0.16	1.90	(2.15)	4.53	(3.96)	13.14
PGY	3.50	(0.67)	0.00	(0.11)	0.00	0.00	8.51	(7.39)	22.52
POWI	1.95	(0.28)	0.00	(0.04)	0.00	0.00	4.72	(5.16)	11.58
LASR	3.11	0.38	0.14	0.23	3.28	(3.44)	6.51	(5.52)	23.42
UCTT	3.04	0.51	0.18	0.29	3.06	(3.50)	7.86	(5.81)	15.73
SONO	1.62	(0.11)	(0.04)	0.00	2.08	(1.74)	4.76	(3.24)	11.06

Applied Opt Corporate Management

David Kuo	VP, General Counsel and Secretary	Profile
Lindsay Savarese	Investor Relations	Profile
Todd McCrum	Senior Access	Profile
Jessica Hung	VP Controller	Profile

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