Applied Opt Correlations

AAOI Stock

USD 51.68 4.70 10.00%

The current 90-days correlation between Applied Opt and Daqo New Energy is 0.3 (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

Very poor diversification

The correlation between Applied Opt and DJI is 0.88 (i.e., Very poor 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

0.63	UI	Ubiquiti Networks	Pair Corr
0.81	VIAV	Viavi Solutions	Pair Corr
0.73	3YL	SMARTOPTICS GRP AS	Pair Corr
0.81	VSAT	ViaSat Inc	Pair Corr
0.73	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.65	ENA	Enablence Technologies	Pair Corr
0.89	FFIV	F5 Networks	Pair Corr
0.73	MTLA	Motorola Solutions	Pair Corr
0.81	FIEE	FiEE Inc Symbol Change	Pair Corr
0.79	1RN	NuRAN Wireless Split	Pair Corr
0.65	PEB	Pebble Beach Systems	Pair Corr
0.65	S1L	SILICOM LTD IS	Pair Corr
0.68	ERCG	Telefonaktiebolaget	Pair Corr
0.69	NOA3	Nokia	Pair Corr
0.69	ERCA	Telefonaktiebolaget	Pair Corr
0.69	ERCB	Telefonaktiebolaget	Pair Corr
0.76	MSI	Motorola Solutions	Pair Corr
0.77	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.62	NOAA	Nokia	Pair Corr
0.8	EKI	Ekinops SA	Pair Corr
0.68	ALLEC	Cogelec SA	Pair Corr
0.64	GILT	Gilat Satellite Networks Tech Boost	Pair Corr
0.87	FTC	Filtronic	Pair Corr

Moving against Applied Stock

0.82	ALNTG	Netgem SA	Pair Corr
0.81	FKWL	Franklin Wireless Corp	Pair Corr
0.74	EXTR	Extreme Networks	Pair Corr
0.72	PARRO	Parrot	Pair Corr
0.6	ERFB	Erf Wireless	Pair Corr
0.53	OCC	Optical Cable	Pair Corr
0.41	GW3	GAPWAVES AB CLASS	Pair Corr
0.4	TLIK	TELES Informationstech	Pair Corr
0.74	BVC	Batm Advanced Commun	Pair Corr
0.72	SEN	Senetas Earnings Call This Week	Pair Corr
0.68	BYL	Baylin Technologies	Pair Corr
0.54	GNSS	Genasys	Pair Corr
0.49	OCC	Optical Cable	Pair Corr
0.47	5BT	BAYLIN TECHNOLOGIES	Pair Corr
0.36	3LO	POWERFLEET INC DL	Pair Corr

Related Correlations Analysis

	DQ	KLIC	VSH	MXL	VECO	PGY	POWI	LASR	UCTT	SONO
DQ		-0.8	-0.82	-0.4	-0.37	0.62	-0.85	-0.81	-0.86	0.75	DQ
KLIC	-0.8		0.9	0.69	0.54	-0.76	0.92	0.96	0.95	-0.47	KLIC
VSH	-0.82	0.9		0.68	0.54	-0.64	0.98	0.93	0.92	-0.63	VSH
MXL	-0.4	0.69	0.68		0.79	-0.21	0.68	0.67	0.58	-0.1	MXL
VECO	-0.37	0.54	0.54	0.79		0.01	0.58	0.46	0.49	-0.22	VECO
PGY	0.62	-0.76	-0.64	-0.21	0.01		-0.63	-0.77	-0.78	0.48	PGY
POWI	-0.85	0.92	0.98	0.68	0.58	-0.63		0.93	0.94	-0.66	POWI
LASR	-0.81	0.96	0.93	0.67	0.46	-0.77	0.93		0.96	-0.54	LASR
UCTT	-0.86	0.95	0.92	0.58	0.49	-0.78	0.94	0.96		-0.68	UCTT
SONO	0.75	-0.47	-0.63	-0.1	-0.22	0.48	-0.66	-0.54	-0.68		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

POWI	+ 0.98	VSH
LASR	+ 0.96	KLIC
UCTT	+ 0.96	LASR
UCTT	+ 0.95	KLIC
UCTT	+ 0.94	POWI
LASR	+ 0.93	VSH

High negative correlations

UCTT	- 0.86	DQ
POWI	- 0.85	DQ
VSH	- 0.82	DQ
LASR	- 0.81	DQ
KLIC	- 0.8	DQ
UCTT	- 0.78	PGY

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	2.28	(0.48)	0.00	(0.72)	0.00	0.00	4.29	(6.36)	20.30
KLIC	2.32	0.95	0.43	0.85	1.25	(2.55)	6.16	(3.29)	23.16
VSH	2.22	0.50	0.25	0.33	1.72	(2.55)	6.56	(3.85)	11.64
MXL	2.73	0.34	0.12	0.23	3.30	(3.06)	7.94	(5.30)	18.71
VECO	2.39	(0.10)	0.00	0.03	3.78	(2.25)	5.33	(4.66)	22.64
PGY	3.54	(1.16)	0.00	(0.29)	0.00	0.00	6.60	(6.77)	35.83
POWI	1.81	0.33	0.17	0.28	1.75	(2.02)	5.20	(3.27)	10.65
LASR	2.93	0.86	0.23	0.53	3.60	(3.37)	6.60	(5.52)	18.85
UCTT	3.26	1.29	0.38	0.61	2.68	(4.02)	8.03	(6.20)	17.36
SONO	1.82	(0.16)	0.00	(0.09)	0.00	0.00	5.13	(4.65)	11.87

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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