Apple Correlations
| APC Stock | EUR 223.45 1.90 0.86% |
The current 90-days correlation between Apple Inc and Amazon Inc is 0.43 (i.e., Very weak diversification). The correlation of Apple 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 Correlation With Market
Good diversification
The correlation between Apple Inc and DJI is -0.17 (i.e., Good 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.
Apple |
The ability to find closely correlated positions to Apple 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 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 - 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 Inc to buy it.
Moving together with Apple Stock
| 0.96 | APC | Apple Inc | PairCorr |
| 0.89 | SON1 | Sony Group Corp | PairCorr |
| 0.89 | SONA | Sony Group | PairCorr |
| 0.79 | 3CP | Xiaomi | PairCorr |
| 0.8 | MAT1 | Panasonic Corp | PairCorr |
| 0.88 | TL0 | Tesla Inc Earnings Call This Week | PairCorr |
| 0.8 | KEL | Kellogg Company | PairCorr |
| 0.79 | GI4 | G III Apparel | PairCorr |
| 0.71 | MTX | MTU Aero Engines | PairCorr |
| 0.88 | SDP | Summit Hotel Properties | PairCorr |
| 0.72 | RHM | Rheinmetall AG | PairCorr |
| 0.89 | NTOA | Nintendo | PairCorr |
| 0.7 | SNQB | SANOMA Dusseldorf | PairCorr |
| 0.67 | NY70 | MOLSON RS BEVERAGE | PairCorr |
| 0.71 | CAI | CDN IMPERIAL BANK | PairCorr |
| 0.71 | LIE | SUN LIFE FINANCIAL | PairCorr |
| 0.74 | XKR | KAR Auction Services | PairCorr |
| 0.67 | IUI1 | Intuitive Surgical Earnings Call This Week | PairCorr |
| 0.74 | DDN | Darden Restaurants | PairCorr |
| 0.85 | ITB | IMPERIAL TOBACCO | PairCorr |
Moving against Apple Stock
| 0.85 | PQ9 | BANK MANDIRI | PairCorr |
| 0.75 | BYRA | BANK RAKYAT IND | PairCorr |
| 0.75 | PQ9 | PT Bank Mandiri | PairCorr |
| 0.73 | BYRA | BANK RAKYAT IND | PairCorr |
| 0.7 | BYRA | PT Bank Rakyat | PairCorr |
| 0.66 | SSUN | Samsung Electronics | PairCorr |
| 0.66 | SSUN | Samsung Electronics | PairCorr |
| 0.65 | SSU | Samsung Electronics | PairCorr |
| 0.65 | SSU | Samsung Electronics | PairCorr |
| 0.56 | BYRA | PT Bank Rakyat | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AMZ | 1.17 | 0.38 | 0.28 | 7.23 | 1.06 | 2.97 | 9.91 | |||
| MSF | 1.01 | 0.13 | 0.08 | 0.54 | 1.50 | 2.60 | 9.96 | |||
| TL0 | 3.49 | 1.06 | 0.28 | 16.06 | 3.02 | 8.74 | 29.81 | |||
| ABEA | 1.44 | 0.40 | 0.29 | (33.28) | 1.11 | 5.27 | 8.98 | |||
| FB2A | 1.55 | 0.17 | 0.10 | 0.80 | 1.62 | 3.80 | 7.59 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Apple 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.Did you try this?
Run Premium Stories Now
Premium StoriesFollow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |
| All Next | Launch Module |
Apple Corporate Management
Elected by the shareholders, the Apple's board of directors comprises two types of representatives: Apple inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Apple. The board's role is to monitor Apple's management team and ensure that shareholders' interests are well served. Apple's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Apple's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Greg Joswiak | VP Marketing | Profile | |
| James Wilson | Chief Officer | Profile | |
| Luca Maestri | CFO VP | Profile | |
| Deirdre OBrien | VP Retail | Profile | |
| Mary Demby | Chief Officer | Profile | |
| Timothy Cook | CEO Director | Profile | |
| Nancy Paxton | Director Treasury | Profile |