Appen Correlations

APXYY Stock

USD 0.57 0.00 0.00%

The current 90-days correlation between Appen Limited and FDM Group plc is -0.01 (i.e., Good diversification). The correlation of Appen 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.

Appen Correlation With Market

Weak diversification

The correlation between Appen Limited and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Appen Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Appen Pink Sheet

0.69	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.71	PYTCY	Playtech PLC ADR	Pair Corr
0.77	EMMA	Emmaus Life Sciences	Pair Corr
0.81	MEGI	MainStay CBRE Global	Pair Corr
0.62	THXPF	Thor Explorations	Pair Corr
0.62	PLSE	Pulse Biosciences	Pair Corr
0.66	LINE	Lineage Common Stock Earnings Call This Week	Pair Corr
0.78	MXCHY	Orbia Advance Corp	Pair Corr

Moving against Appen Pink Sheet

0.75	CAPMF	Capgemini SE	Pair Corr
0.73	CGEMY	Capgemini SE ADR	Pair Corr
0.69	ACN	Accenture plc	Pair Corr
0.69	CTSH	Cognizant Technology	Pair Corr
0.68	INFY	Infosys Ltd ADR	Pair Corr
0.61	IBM	International Business	Pair Corr
0.61	FISV	Fiserv Common Stock Symbol Change	Pair Corr
0.54	ERHE	ERHC Energy	Pair Corr
0.49	NECPY	NEC ADR	Pair Corr
0.44	BAM	Brookfield Asset Man	Pair Corr
0.41	110122CP1	BRISTOL MYERS SQUIBB	Pair Corr
0.32	842400GY3	SOUTHERN CALIFORNIA	Pair Corr

Related Correlations Analysis

	FDDMF	GSDT	FCCN	VNWTF	EMCHF	NLST	MCRNF	FSOYF	ERDLF	DUSXF
FDDMF		-0.39	-0.87	0.01	-0.33	-0.66	0.0	0.0	0.0	-0.22	FDDMF
GSDT	-0.39		0.48	-0.23	-0.06	0.52	0.0	0.0	0.0	-0.17	GSDT
FCCN	-0.87	0.48		0.16	0.21	0.69	0.0	0.0	0.0	0.0	FCCN
VNWTF	0.01	-0.23	0.16		0.07	0.23	0.0	0.0	0.0	0.06	VNWTF
EMCHF	-0.33	-0.06	0.21	0.07		0.61	0.0	0.0	0.0	0.55	EMCHF
NLST	-0.66	0.52	0.69	0.23	0.61		0.0	0.0	0.0	0.26	NLST
MCRNF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MCRNF
FSOYF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		1.0	0.0	FSOYF
ERDLF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.0		0.0	ERDLF
DUSXF	-0.22	-0.17	0.0	0.06	0.55	0.26	0.0	0.0	0.0		DUSXF
	FDDMF	GSDT	FCCN	VNWTF	EMCHF	NLST	MCRNF	FSOYF	ERDLF	DUSXF

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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

ERDLF	+ 1.0	FSOYF
NLST	+ 0.69	FCCN
NLST	+ 0.61	EMCHF
DUSXF	+ 0.55	EMCHF
NLST	+ 0.52	GSDT
FCCN	+ 0.48	GSDT

High negative correlations

FCCN	- 0.87	FDDMF
NLST	- 0.66	FDDMF
GSDT	- 0.39	FDDMF
EMCHF	- 0.33	FDDMF
VNWTF	- 0.23	GSDT
DUSXF	- 0.22	FDDMF

Risk-Adjusted Indicators

There is a big difference between Appen Pink Sheet performing well and Appen 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 Appen'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
FDDMF	0.69	0.27	0.00	(0.07)	0.00	0.00	0.00	0.00	11.11
GSDT	4.03	1.00	0.00	(1.20)	0.00	0.00	0.00	0.00	166.19
FCCN	3.48	0.97	0.26	1.96	2.92	(4.90)	8.56	(5.08)	59.62
VNWTF	1.18	0.41	0.00	(0.46)	0.00	0.00	7.13	(2.12)	14.93
EMCHF	0.05	0.02	0.00	(0.15)	0.00	0.00	0.00	0.00	1.69
NLST	4.15	1.15	0.27	(4.41)	3.26	(5.49)	11.24	(5.69)	29.91
MCRNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FSOYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ERDLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DUSXF	0.35	0.04	0.00	0.11	0.00	0.00	0.00	0.00	11.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in Appen 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.

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