APPLE Correlations

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69.43 7.54 12.18%

The current 90-days correlation between APPLE INC and AEP TEX INC is -0.05 (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 and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding APPLE INC 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 to buy it.

Moving together with APPLE Bond

0.64

MRK

Merck Company Fiscal Year End 6th of February 2025

Pair Corr

Moving against APPLE Bond

0.74	HPQ	HP Inc	Pair Corr
0.63	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.62	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.61	GOOG	Alphabet Class C	Pair Corr
0.59	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	HD	Home Depot	Pair Corr
0.58	BAC	Bank of America Aggressive Push	Pair Corr
0.57	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.57	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.52	WMT	Walmart Aggressive Push	Pair Corr
0.49	T	ATT Inc Aggressive Push	Pair Corr
0.43	DIS	Walt Disney Aggressive Push	Pair Corr
0.33	SNOW	Snowflake Trending	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	DXYZ	SNOW	SCHW	GVA	PX	NFLX	GOOG	QUBT
00108WAF7		-0.08	0.02	-0.02	-0.02	-0.08	-0.07	0.0	-0.07	0.02	00108WAF7
90331HPL1	-0.08		-0.62	-0.46	-0.46	-0.35	-0.33	-0.5	-0.33	-0.71	90331HPL1
DXYZ	0.02	-0.62		0.64	0.78	0.77	0.7	0.81	0.68	0.77	DXYZ
SNOW	-0.02	-0.46	0.64		0.7	0.57	0.59	0.67	0.67	0.62	SNOW
SCHW	-0.02	-0.46	0.78	0.7		0.9	0.87	0.92	0.79	0.82	SCHW
GVA	-0.08	-0.35	0.77	0.57	0.9		0.91	0.92	0.84	0.74	GVA
PX	-0.07	-0.33	0.7	0.59	0.87	0.91		0.89	0.74	0.73	PX
NFLX	0.0	-0.5	0.81	0.67	0.92	0.92	0.89		0.82	0.85	NFLX
GOOG	-0.07	-0.33	0.68	0.67	0.79	0.84	0.74	0.82		0.62	GOOG
QUBT	0.02	-0.71	0.77	0.62	0.82	0.74	0.73	0.85	0.62		QUBT
	00108WAF7	90331HPL1	DXYZ	SNOW	SCHW	GVA	PX	NFLX	GOOG	QUBT

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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

NFLX	+ 0.92	SCHW
NFLX	+ 0.92	GVA
PX	+ 0.91	GVA
GVA	+ 0.9	SCHW
NFLX	+ 0.89	PX
PX	+ 0.87	SCHW

High negative correlations

QUBT	- 0.71	90331HPL1
DXYZ	- 0.62	90331HPL1
NFLX	- 0.5	90331HPL1
SCHW	- 0.46	90331HPL1
SNOW	- 0.46	90331HPL1
GVA	- 0.35	90331HPL1

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	1.27	0.17	0.04	(1.01)	1.40	(1.38)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.06)	0.00	(0.14)	0.00	0.00	0.32	(0.85)	6.93
DXYZ	7.21	1.74	0.30	0.36	5.91	(9.51)	24.07	(11.59)	92.15
SNOW	1.81	(0.13)	(0.02)	0.00	3.59	(1.54)	3.85	(3.44)	17.08
SCHW	1.07	0.26	0.21	0.36	0.69	(1.18)	2.77	(1.39)	9.62
GVA	1.08	0.40	0.40	0.42	0.46	(1.36)	2.88	(1.32)	6.13
PX	1.28	0.32	0.23	0.39	0.95	(1.50)	3.51	(2.14)	7.03
NFLX	1.29	0.30	0.19	0.50	1.16	(1.50)	2.80	(2.33)	13.04
GOOG	1.13	0.00	(0.01)	0.08	1.57	(1.04)	2.21	(1.96)	5.99
QUBT	9.22	3.70	0.45	2.83	6.39	(12.65)	25.00	(7.96)	122.30

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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