Applied Digital Correlations

APLD Stock

USD 34.95 7.10 25.49%

The current 90-days correlation between Applied Digital and Aurora Innovation is 0.49 (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 0.65 (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 metropolitan statistical area.

For information on how to trade Applied Stock refer to our How to Trade Applied Stock guide.

Moving together with Applied Stock

0.68	JG	Aurora Mobile	Pair Corr
0.71	API	Agora Inc	Pair Corr
0.73	AUR	Aurora Innovation Earnings Call This Week	Pair Corr

Moving against Applied Stock

0.64	FICO	Fair Isaac	Pair Corr
0.61	MQ	Marqeta	Pair Corr
0.59	WDAY	Workday	Pair Corr
0.54	DOMO	Domo Inc	Pair Corr
0.52	PD	Pagerduty	Pair Corr
0.47	DT	Dynatrace Holdings LLC	Pair Corr
0.44	VTEX	VTEX	Pair Corr
0.38	MSFT	Microsoft Corp CDR	Pair Corr
0.37	BL	Blackline	Pair Corr
0.37	QH	Quhuo	Pair Corr
0.34	EGHT	8x8 Common Stock Tech Boost	Pair Corr
0.53	BOX	Box Inc	Pair Corr
0.5	OLB	OLB Group	Pair Corr
0.49	MRT	Marti Technologies	Pair Corr
0.48	GEN	Gen Digital	Pair Corr
0.44	TYL	Tyler Technologies	Pair Corr
0.42	PTC	PTC Inc	Pair Corr
0.39	CYN	Cyngn Inc	Pair Corr
0.37	CXM	Sprinklr	Pair Corr

Related Correlations Analysis

	AUR	EPAM	JKHY	DOX	AMKR	APPF	TTAN	OTEX	TSEM	CFLT
AUR		0.33	0.25	0.56	0.62	0.09	0.22	0.06	0.24	0.26	AUR
EPAM	0.33		0.93	0.38	0.77	-0.3	0.46	-0.28	0.79	0.76	EPAM
JKHY	0.25	0.93		0.26	0.71	-0.34	0.45	-0.24	0.75	0.75	JKHY
DOX	0.56	0.38	0.26		0.42	0.29	0.41	0.19	0.09	0.37	DOX
AMKR	0.62	0.77	0.71	0.42		-0.51	0.08	-0.51	0.84	0.77	AMKR
APPF	0.09	-0.3	-0.34	0.29	-0.51		0.61	0.92	-0.69	-0.49	APPF
TTAN	0.22	0.46	0.45	0.41	0.08	0.61		0.66	-0.03	0.18	TTAN
OTEX	0.06	-0.28	-0.24	0.19	-0.51	0.92	0.66		-0.7	-0.51	OTEX
TSEM	0.24	0.79	0.75	0.09	0.84	-0.69	-0.03	-0.7		0.82	TSEM
CFLT	0.26	0.76	0.75	0.37	0.77	-0.49	0.18	-0.51	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

JKHY	+ 0.93	EPAM
OTEX	+ 0.92	APPF
TSEM	+ 0.84	AMKR
CFLT	+ 0.82	TSEM
TSEM	+ 0.79	EPAM
AMKR	+ 0.77	EPAM

High negative correlations

TSEM	- 0.7	OTEX
TSEM	- 0.69	APPF
CFLT	- 0.51	OTEX
OTEX	- 0.51	AMKR
APPF	- 0.51	AMKR
CFLT	- 0.49	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	2.97	(0.41)	0.00	(0.06)	0.00	0.00	4.72	(6.87)	22.39
EPAM	1.81	0.15	0.05	0.20	2.83	(1.80)	4.41	(3.57)	18.57
JKHY	1.17	0.18	0.08	0.41	1.54	(1.24)	2.39	(2.03)	12.13
DOX	1.17	(0.24)	0.00	(0.29)	0.00	0.00	1.55	(2.64)	10.32
AMKR	3.20	0.25	0.11	0.16	3.43	(3.49)	8.71	(6.31)	18.45
APPF	1.60	(0.66)	0.00	(0.42)	0.00	0.00	2.91	(4.28)	11.62
TTAN	2.47	(0.61)	0.00	(0.79)	0.00	0.00	3.89	(4.97)	21.98
OTEX	1.59	(0.73)	0.00	(0.40)	0.00	0.00	1.61	(3.92)	8.74
TSEM	2.97	0.70	0.21	0.49	3.29	(3.51)	6.43	(6.89)	27.77
CFLT	1.47	0.45	0.22	51.46	1.00	(1.80)	3.75	(3.28)	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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