Aplisens Correlations

APN Stock

17.60 1.35 7.12%

The current 90-days correlation between Aplisens SA and Banco Santander SA is -0.08 (i.e., Good diversification). The correlation of Aplisens 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Aplisens Correlation With Market

Good diversification

The correlation between Aplisens SA and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aplisens SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Aplisens could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aplisens 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 Aplisens - 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 Aplisens SA to buy it.

Moving together with Aplisens Stock

0.86

PKN

Polski Koncern Naftowy

Pair Corr

Moving against Aplisens Stock

0.84	UCG	UniCredit SpA	Pair Corr
0.76	SAN	Banco Santander SA	Pair Corr
0.58	CEZ	CEZ as	Pair Corr
0.48	DNP	Dino Polska SA	Pair Corr

Related Correlations Analysis

	SAN	UCG	CEZ	PKN	DNP	ALE	SPL	KGH	PCO	PEO
SAN		0.68	0.39	-0.59	0.42	-0.41	-0.41	0.32	-0.06	-0.37	SAN
UCG	0.68		0.49	-0.76	0.48	-0.49	-0.47	0.21	-0.17	-0.46	UCG
CEZ	0.39	0.49		-0.67	0.59	-0.66	-0.34	-0.32	-0.61	-0.48	CEZ
PKN	-0.59	-0.76	-0.67		-0.62	0.68	0.67	0.03	0.44	0.67	PKN
DNP	0.42	0.48	0.59	-0.62		-0.8	-0.47	-0.15	-0.22	-0.45	DNP
ALE	-0.41	-0.49	-0.66	0.68	-0.8		0.61	0.25	0.43	0.75	ALE
SPL	-0.41	-0.47	-0.34	0.67	-0.47	0.61		-0.3	0.04	0.88	SPL
KGH	0.32	0.21	-0.32	0.03	-0.15	0.25	-0.3		0.79	-0.08	KGH
PCO	-0.06	-0.17	-0.61	0.44	-0.22	0.43	0.04	0.79		0.25	PCO
PEO	-0.37	-0.46	-0.48	0.67	-0.45	0.75	0.88	-0.08	0.25		PEO
	SAN	UCG	CEZ	PKN	DNP	ALE	SPL	KGH	PCO	PEO

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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

PEO	+ 0.88	SPL
PCO	+ 0.79	KGH
PEO	+ 0.75	ALE
UCG	+ 0.68	SAN
ALE	+ 0.68	PKN
SPL	+ 0.67	PKN

High negative correlations

ALE	- 0.8	DNP
PKN	- 0.76	UCG
PKN	- 0.67	CEZ
ALE	- 0.66	CEZ
DNP	- 0.62	PKN
PCO	- 0.61	CEZ

Risk-Adjusted Indicators

There is a big difference between Aplisens Stock performing well and Aplisens 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 Aplisens' 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
SAN	1.33	0.01	(0.02)	0.14	2.12	(1.27)	2.22	(3.53)	9.22
UCG	1.50	(0.02)	(0.05)	0.05	1.88	(2.08)	2.84	(4.30)	9.81
CEZ	0.98	0.14	0.03	1.71	1.04	(1.18)	1.96	(1.87)	6.79
PKN	1.25	(0.19)	0.00	(1.78)	0.00	0.00	2.50	(2.83)	7.71
DNP	1.92	0.34	0.15	0.98	1.54	(2.49)	5.03	(2.72)	16.97
ALE	1.45	(0.43)	0.00	(1.19)	0.00	0.00	2.37	(3.49)	15.02
SPL	1.47	(0.26)	0.00	(0.79)	0.00	0.00	2.97	(3.09)	11.50
KGH	1.73	(0.12)	0.00	(0.24)	0.00	0.00	3.84	(3.69)	14.11
PCO	1.67	(0.22)	0.00	(0.29)	0.00	0.00	3.43	(3.14)	11.47
PEO	1.57	(0.25)	0.00	(0.37)	0.00	0.00	3.00	(3.09)	10.89

Aplisens Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Aplisens stock to make a market-neutral strategy. Peer analysis of Aplisens could also be used in its relative valuation, which is a method of valuing Aplisens by comparing valuation metrics with similar companies.

Banco Santander SA UniCredit SpA CEZ as Polski Koncern Naftowy Dino Polska SA Allegroeu SA Santander Bank Polska KGHM Polska Miedz Pepco Group BV Bank Polska Kasa American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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