Appfolio Correlations

APPF Stock

USD 177.36 6.79 3.69%

The current 90-days correlation between Appfolio and Open Text Corp is 0.38 (i.e., Weak diversification). The correlation of Appfolio 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.

Appfolio Correlation With Market

Very good diversification

The correlation between Appfolio and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Appfolio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Appfolio Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Appfolio. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more detail on how to invest in Appfolio Stock please use our How to Invest in Appfolio guide.

Moving together with Appfolio Stock

0.93	DT	Dynatrace Holdings LLC	Pair Corr
0.61	MQ	Marqeta	Pair Corr
0.81	PD	Pagerduty	Pair Corr
0.82	DOMO	Domo Inc	Pair Corr
0.76	ESTC	Elastic NV	Pair Corr
0.91	TTD	Trade Desk	Pair Corr
0.9	HUBS	HubSpot	Pair Corr
0.82	INTU	Intuit Inc	Pair Corr
0.81	LPSN	LivePerson	Pair Corr
0.89	MNDY	MondayCom Earnings Call This Week	Pair Corr
0.9	PAYC	Paycom Software Earnings Call This Week	Pair Corr
0.81	PHUN	Phunware	Pair Corr
0.82	ADSK	Autodesk	Pair Corr
0.85	TEAM	Atlassian Corp Plc	Pair Corr
0.64	DDOG	Datadog Earnings Call This Week	Pair Corr

Moving against Appfolio Stock

0.57	SLF	Sun Life Financial Earnings Call This Week	Pair Corr
0.56	ASUR	Asure Software	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.85	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	MRK	Merck Company Aggressive Push	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.79	KO	Coca Cola Aggressive Push	Pair Corr
0.78	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.62	INTC	Intel	Pair Corr
0.62	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.56	BA	Boeing	Pair Corr
0.44	GLUC	Glucose Health	Pair Corr
0.39	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	OTEX	IDCC	PEGA	PAYC	NICE	GTM	MANH	TTAN	ESTC	DSGX
OTEX		0.55	0.9	0.96	0.38	0.95	0.89	0.61	0.68	0.71	OTEX
IDCC	0.55		0.36	0.64	0.4	0.46	0.36	0.0	0.53	0.16	IDCC
PEGA	0.9	0.36		0.82	0.31	0.91	0.84	0.85	0.56	0.85	PEGA
PAYC	0.96	0.64	0.82		0.43	0.89	0.83	0.51	0.71	0.65	PAYC
NICE	0.38	0.4	0.31	0.43		0.5	0.27	0.01	0.62	0.07	NICE
GTM	0.95	0.46	0.91	0.89	0.5		0.87	0.68	0.64	0.73	GTM
MANH	0.89	0.36	0.84	0.83	0.27	0.87		0.7	0.53	0.8	MANH
TTAN	0.61	0.0	0.85	0.51	0.01	0.68	0.7		0.21	0.9	TTAN
ESTC	0.68	0.53	0.56	0.71	0.62	0.64	0.53	0.21		0.28	ESTC
DSGX	0.71	0.16	0.85	0.65	0.07	0.73	0.8	0.9	0.28		DSGX
	OTEX	IDCC	PEGA	PAYC	NICE	GTM	MANH	TTAN	ESTC	DSGX

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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

PAYC	+ 0.96	OTEX
GTM	+ 0.95	OTEX
GTM	+ 0.91	PEGA
PEGA	+ 0.9	OTEX
DSGX	+ 0.9	TTAN
MANH	+ 0.89	OTEX

High negative correlations

TTAN

- 0.0

IDCC

Risk-Adjusted Indicators

There is a big difference between Appfolio Stock performing well and Appfolio 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 Appfolio'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
OTEX	1.47	(0.80)	(0.73)	1.45	(3.92)	8.74
IDCC	1.87	(0.35)	(0.36)	3.47	(4.57)	17.55
PEGA	2.06	(0.77)	(0.80)	4.17	(6.08)	15.04
PAYC	1.60	(0.51)	3.09	2.58	(3.80)	11.72
NICE	1.76	(0.33)	(0.26)	3.24	(3.81)	18.80
GTM	2.02	(0.77)	(0.60)	4.11	(5.69)	17.95
MANH	1.47	(0.43)	(0.51)	2.51	(4.20)	13.27
TTAN	2.42	(0.62)	(1.23)	3.59	(4.97)	21.98
ESTC	2.19	(0.53)	5.73	3.82	(7.02)	18.64
DSGX	1.57	(0.40)	(0.54)	2.02	(3.74)	23.15

Appfolio Corporate Management

Amy Meyer	Chief Officer	Profile
Nat Kunes	VP Management	Profile
Matthew Mazza	Chief Secretary	Profile
Evan Pickering	Senior Secretary	Profile
Fay Goon	Principal Officer	Profile

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