Applied Digital Correlations

APLD Stock

USD 10.45 0.11 1.04%

The current 90-days correlation between Applied Digital and National CineMedia is -0.2 (i.e., Good diversification). The correlation of Applied Digital 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.

Applied Digital Correlation With Market

Modest diversification

The correlation between Applied Digital and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Digital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Applied Stock

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

For information on how to trade Applied Stock refer to our How to Trade Applied Stock guide.

Moving together with Applied Stock

0.75	KD	Kyndryl Holdings	Pair Corr
0.77	VRRM	Verra Mobility Corp	Pair Corr
0.76	CTM	Castellum	Pair Corr
0.64	FIS	Fidelity National	Pair Corr
0.82	IBM	International Business	Pair Corr
0.75	III	Information Services	Pair Corr
0.65	PSN	Parsons Corp	Pair Corr
0.82	VYX	NCR Voyix	Pair Corr
0.69	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.77	IBEX	IBEX	Pair Corr
0.73	INFY	Infosys Ltd ADR	Pair Corr
0.83	INOD	Innodata	Pair Corr

Moving against Applied Stock

0.64	FI	Fiserv,	Pair Corr
0.63	AUR	Aurora Innovation	Pair Corr
0.79	JDZG	JIADE LIMITED Common	Pair Corr
0.75	GDYN	Grid Dynamics Holdings	Pair Corr
0.73	AUROW	Aurora Innovation	Pair Corr
0.66	SLNHP	Soluna Holdings Preferred Trending	Pair Corr
0.64	GLOB	Globant SA	Pair Corr
0.48	HCKT	Hackett Group	Pair Corr
0.42	NOTE	FiscalNote Holdings	Pair Corr

Related Correlations Analysis

	CDXS	NCMI	IPG	STGW	FSI	CC	DLX	BOC
CDXS		-0.46	0.71	0.0	0.62	0.5	0.69	0.13	CDXS
NCMI	-0.46		0.02	0.7	-0.6	0.25	-0.4	0.35	NCMI
IPG	0.71	0.02		0.56	0.25	0.71	0.59	0.43	IPG
STGW	0.0	0.7	0.56		-0.45	0.56	-0.02	0.66	STGW
FSI	0.62	-0.6	0.25	-0.45		0.16	0.59	-0.43	FSI
CC	0.5	0.25	0.71	0.56	0.16		0.6	0.38	CC
DLX	0.69	-0.4	0.59	-0.02	0.59	0.6		0.01	DLX
BOC	0.13	0.35	0.43	0.66	-0.43	0.38	0.01		BOC
	CDXS	NCMI	IPG	STGW	FSI	CC	DLX	BOC

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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

IPG	+ 0.71	CDXS
CC	+ 0.71	IPG
STGW	+ 0.7	NCMI
DLX	+ 0.69	CDXS
BOC	+ 0.66	STGW
FSI	+ 0.62	CDXS

High negative correlations

FSI	- 0.6	NCMI
NCMI	- 0.46	CDXS
FSI	- 0.45	STGW
BOC	- 0.43	FSI
DLX	- 0.4	NCMI
DLX	- 0.02	STGW

Risk-Adjusted Indicators

There is a big difference between Applied Stock performing well and Applied Digital 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 Applied Digital'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
CDXS	3.52	(0.05)	0.01	0.08	3.92	(4.17)	7.89	(6.99)	27.22
NCMI	2.14	(0.31)	0.00	(0.42)	0.00	0.00	3.75	(4.62)	18.36
IPG	1.70	(0.18)	0.00	(0.06)	0.00	0.00	2.99	(3.74)	16.40
STGW	2.96	(0.51)	0.00	(0.24)	0.00	0.00	5.27	(6.73)	24.48
FSI	2.68	0.13	0.04	0.23	3.40	(2.77)	9.30	(7.37)	20.69
CC	3.56	(0.18)	(0.01)	0.03	4.71	(3.74)	6.50	(9.08)	34.02
DLX	1.98	0.06	0.03	0.16	2.65	(2.05)	3.80	(4.87)	13.16
BOC	1.11	(0.06)	0.00	(0.02)	0.00	0.00	2.34	(2.48)	10.94

Applied Digital Corporate Management

Regina Ingel	Chief Officer	Profile
Michael Maniscalco	Ex Technology	Profile
Laura Laltrello	Chief Officer	Profile
David Rench	Chief Officer	Profile
Chris Jackson	Senior Operations	Profile
Nick Phillips	Executive Acquisitions	Profile
Saidal Mohmand	Ex Fin	Profile

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