APPLE Correlations

037833CR9

95.22 2.08 2.14%

The current 90-days correlation between APPLE INC 32 and AEP TEX INC is 0.36 (i.e., Weak 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

Significant diversification

The correlation between APPLE INC 32 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding APPLE INC 32 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 32 to buy it.

Moving together with APPLE Bond

0.72

JNJ

Johnson Johnson Fiscal Year End 28th of January 2025

Pair Corr

Moving against APPLE Bond

0.85	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.83	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.83	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.83	WMT	Walmart Aggressive Push	Pair Corr
0.81	VRT	Vertiv Holdings	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.8	NDAQ	Nasdaq Inc	Pair Corr
0.76	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.68	T	ATT Inc Aggressive Push	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.61	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.61	HD	Home Depot Sell-off Trend	Pair Corr
0.6	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.52	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	NDAQ	VRT	AXP	INTC	PFE	JPM	JNJ	MCD
00108WAF7		-0.05	0.02	-0.13	-0.05	-0.13	0.01	-0.03	0.12	-0.09	00108WAF7
90331HPL1	-0.05		-0.45	-0.3	-0.28	-0.07	0.53	-0.39	0.29	0.39	90331HPL1
NDAQ	0.02	-0.45		0.83	0.86	0.69	-0.86	0.88	-0.8	-0.1	NDAQ
VRT	-0.13	-0.3	0.83		0.93	0.87	-0.71	0.78	-0.84	0.26	VRT
AXP	-0.05	-0.28	0.86	0.93		0.85	-0.7	0.82	-0.79	0.24	AXP
INTC	-0.13	-0.07	0.69	0.87	0.85		-0.59	0.65	-0.81	0.32	INTC
PFE	0.01	0.53	-0.86	-0.71	-0.7	-0.59		-0.86	0.85	0.31	PFE
JPM	-0.03	-0.39	0.88	0.78	0.82	0.65	-0.86		-0.75	-0.13	JPM
JNJ	0.12	0.29	-0.8	-0.84	-0.79	-0.81	0.85	-0.75		0.05	JNJ
MCD	-0.09	0.39	-0.1	0.26	0.24	0.32	0.31	-0.13	0.05		MCD
	00108WAF7	90331HPL1	NDAQ	VRT	AXP	INTC	PFE	JPM	JNJ	MCD

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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

AXP	+ 0.93	VRT
JPM	+ 0.88	NDAQ
INTC	+ 0.87	VRT
AXP	+ 0.86	NDAQ
INTC	+ 0.85	AXP
JNJ	+ 0.85	PFE

High negative correlations

JPM	- 0.86	PFE
PFE	- 0.86	NDAQ
JNJ	- 0.84	VRT
JNJ	- 0.81	INTC
JNJ	- 0.8	NDAQ
JNJ	- 0.79	AXP

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
00108WAF7	1.31	0.14	0.02	2.80	1.57	(1.42)	3.24	(2.55)	10.75
90331HPL1	0.33	(0.03)	0.00	(0.13)	0.00	0.00	0.45	(0.85)	6.98
NDAQ	0.78	0.16	0.12	0.36	0.75	(0.90)	1.86	(1.73)	5.20
VRT	2.42	0.52	0.20	0.38	2.46	(2.65)	5.87	(4.39)	20.36
AXP	1.24	0.08	0.11	0.16	1.12	(1.36)	2.83	(2.19)	9.79
INTC	2.38	0.03	0.06	0.13	2.64	(2.68)	6.36	(3.50)	18.29
PFE	1.03	(0.19)	0.00	(0.35)	0.00	0.00	2.17	(2.45)	8.17
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
JNJ	0.61	(0.09)	0.00	(0.33)	0.00	0.00	1.40	(1.42)	3.25
MCD	0.72	(0.03)	(0.06)	0.07	1.33	(0.66)	1.46	(1.18)	6.70

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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