Applied Digital Correlations

APLD Stock

USD 29.04 2.49 7.90%

The current 90-days correlation between Applied Digital and Aurora Innovation is 0.45 (i.e., Very weak 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

Poor diversification

The correlation between Applied Digital and DJI is 0.75 (i.e., Poor 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

0.72	XV7	SERESCO 16	Pair Corr
0.7	JG	Aurora Mobile	Pair Corr
0.72	RNI	OXFORD METRICS LS	Pair Corr
0.68	LUS1	Lang Schwarz Aktieng	Pair Corr

Moving against Applied Stock

0.69	DOMO	Domo Inc Buyout Trend	Pair Corr
0.69	1Q5	Dropbox	Pair Corr
0.64	2TY	PagerDuty	Pair Corr
0.63	MQ	Marqeta	Pair Corr
0.61	PD	Pagerduty	Pair Corr
0.6	DT	Dynatrace Holdings LLC	Pair Corr
0.55	DOCU	DocuSign	Pair Corr
0.44	WK	Workiva	Pair Corr
0.44	DMRC	Digimarc	Pair Corr
0.42	35U	PAR TECHNOLOGY DL Earnings Call This Week	Pair Corr
0.41	BL	Blackline	Pair Corr
0.41	VS	Versus Systems	Pair Corr
0.39	QH	Quhuo	Pair Corr
0.39	RM	RM Plc	Pair Corr
0.33	9NY	BYTES TECHGRP LS	Pair Corr
0.33	MTLO	Martello Technologies	Pair Corr
0.33	VERI	Veritone	Pair Corr
0.31	BGE	Bridge Saas	Pair Corr
0.59	VTEX	VTEX	Pair Corr
0.55	OBL	OBIC CoLtd	Pair Corr
0.54	AN5	Alpha Systems	Pair Corr
0.54	5PT	PROCORE TECHINCDL 0001	Pair Corr
0.53	SAP	SAP SE	Pair Corr
0.52	LY0	Lyft Inc	Pair Corr
0.51	IOM	iomart Group plc	Pair Corr
0.51	NCC	NCC Group plc	Pair Corr

Related Correlations Analysis

	AUR	EPAM	JKHY	DOX	AMKR	APPF	TTAN	OTEX	TSEM	CFLT
AUR		0.15	0.21	0.17	0.74	-0.26	-0.04	-0.23	0.53	0.48	AUR
EPAM	0.15		0.91	0.89	0.28	0.58	0.72	0.46	0.19	0.3	EPAM
JKHY	0.21	0.91		0.87	0.27	0.55	0.75	0.49	0.15	0.36	JKHY
DOX	0.17	0.89	0.87		0.22	0.58	0.71	0.46	0.08	0.28	DOX
AMKR	0.74	0.28	0.27	0.22		-0.47	-0.2	-0.51	0.87	0.77	AMKR
APPF	-0.26	0.58	0.55	0.58	-0.47		0.89	0.94	-0.57	-0.38	APPF
TTAN	-0.04	0.72	0.75	0.71	-0.2	0.89		0.88	-0.32	-0.02	TTAN
OTEX	-0.23	0.46	0.49	0.46	-0.51	0.94	0.88		-0.65	-0.44	OTEX
TSEM	0.53	0.19	0.15	0.08	0.87	-0.57	-0.32	-0.65		0.82	TSEM
CFLT	0.48	0.3	0.36	0.28	0.77	-0.38	-0.02	-0.44	0.82		CFLT
	AUR	EPAM	JKHY	DOX	AMKR	APPF	TTAN	OTEX	TSEM	CFLT

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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

OTEX	+ 0.94	APPF
JKHY	+ 0.91	EPAM
DOX	+ 0.89	EPAM
TTAN	+ 0.89	APPF
OTEX	+ 0.88	TTAN
DOX	+ 0.87	JKHY

High negative correlations

TSEM	- 0.65	OTEX
TSEM	- 0.57	APPF
OTEX	- 0.51	AMKR
APPF	- 0.47	AMKR
CFLT	- 0.44	OTEX
CFLT	- 0.38	APPF

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
AUR	2.95	0.07	0.06	0.09	3.43	(3.00)	6.16	(6.15)	22.39
EPAM	2.27	(0.47)	0.00	(0.16)	0.00	0.00	3.63	(7.11)	22.71
JKHY	1.17	(0.08)	0.00	(0.06)	0.00	0.00	2.26	(2.26)	9.90
DOX	1.15	(0.21)	0.00	(0.14)	0.00	0.00	1.60	(2.64)	10.32
AMKR	3.30	0.51	0.17	0.24	3.39	(3.70)	8.71	(6.31)	20.29
APPF	1.84	(0.63)	0.00	(0.36)	0.00	0.00	3.09	(5.08)	11.62
TTAN	2.62	(0.43)	0.00	(0.70)	0.00	0.00	4.54	(6.06)	21.98
OTEX	1.60	(0.54)	0.00	(0.29)	0.00	0.00	2.44	(3.73)	16.91
TSEM	2.70	0.37	0.10	0.44	3.35	(3.07)	5.57	(7.02)	16.66
CFLT	1.27	0.46	0.28	4.22	0.67	(1.48)	2.56	(1.71)	29.51

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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