APPLE Correlations

037833CD0

81.85 2.19 2.61%

The current 90-days correlation between APPLE INC 385 and BCE Inc is -0.07 (i.e., Good diversification). The correlation of APPLE 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.

APPLE Correlation With Market

Good diversification

The correlation between APPLE INC 385 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding APPLE INC 385 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to APPLE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace APPLE 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 APPLE - 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 APPLE INC 385 to buy it.

Moving against APPLE Bond

0.66	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.62	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.55	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.48	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.47	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.47	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.44	T	ATT Inc Aggressive Push	Pair Corr
0.39	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.38	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.35	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.33	90331HPL1	US BANK NATIONAL	Pair Corr
0.32	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	BCE	TSLA	CPAC	MYRG	PKOH	EME	ECG
BCE		-0.88	-0.66	-0.95	-0.81	-0.87	0.38	BCE
TSLA	-0.88		0.57	0.82	0.8	0.84	-0.23	TSLA
CPAC	-0.66	0.57		0.65	0.41	0.64	-0.71	CPAC
MYRG	-0.95	0.82	0.65		0.81	0.94	-0.38	MYRG
PKOH	-0.81	0.8	0.41	0.81		0.79	-0.09	PKOH
EME	-0.87	0.84	0.64	0.94	0.79		-0.28	EME
ECG	0.38	-0.23	-0.71	-0.38	-0.09	-0.28		ECG
	BCE	TSLA	CPAC	MYRG	PKOH	EME	ECG

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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

EME	+ 0.94	MYRG
EME	+ 0.84	TSLA
MYRG	+ 0.82	TSLA
PKOH	+ 0.81	MYRG
PKOH	+ 0.8	TSLA
EME	+ 0.79	PKOH

High negative correlations

MYRG	- 0.95	BCE
TSLA	- 0.88	BCE
EME	- 0.87	BCE
PKOH	- 0.81	BCE
ECG	- 0.71	CPAC
CPAC	- 0.66	BCE

Risk-Adjusted Indicators

There is a big difference between APPLE Bond performing well and APPLE Corporate Bond 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 APPLE'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
BCE	0.88	(0.38)	0.00	(3.44)	0.00	0.00	1.53	(1.83)	12.47
TSLA	3.11	0.54	0.21	0.36	2.67	(3.83)	8.19	(5.77)	28.06
CPAC	1.22	0.13	(0.03)	(0.07)	2.16	(1.24)	2.85	(2.80)	14.21
MYRG	2.06	0.53	0.29	0.41	1.64	(2.50)	5.71	(3.02)	17.58
PKOH	1.62	(0.17)	0.00	0.04	1.98	(1.69)	2.61	(3.59)	19.17
EME	1.41	0.28	0.14	0.31	1.92	(1.56)	3.31	(2.67)	10.81
ECG	3.16	1.21	0.35	1.89	2.45	(3.79)	6.99	(4.19)	18.13

Be your own money manager

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