Appfolio Correlations

APPF Stock

USD 219.43 3.05 1.37%

The current 90-days correlation between Appfolio and Open Text Corp is 0.3 (i.e., Weak diversification). The correlation of Appfolio 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.

Appfolio Correlation With Market

Very good diversification

The correlation between Appfolio and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Appfolio and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Appfolio Stock

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

For more detail on how to invest in Appfolio Stock please use our How to Invest in Appfolio guide.

Moving together with Appfolio Stock

0.62	INTU	Intuit Inc	Pair Corr
0.78	DGNX	Diginex Limited Ordinary	Pair Corr
0.66	PTAIF	PT Astra International	Pair Corr
0.64	PBCRY	Bank Central Asia	Pair Corr
0.71	HPQ	HP Inc	Pair Corr

Moving against Appfolio Stock

0.76	CWAN	Clearwater Analytics	Pair Corr
0.68	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.61	PPERF	Bank Mandiri Persero	Pair Corr
0.6	PTAIY	Astra International Tbk	Pair Corr
0.56	TLK	Telkom Indonesia Tbk	Pair Corr
0.47	PPERY	Bank Mandiri Persero	Pair Corr
0.47	INTC	Intel Earnings Call This Week	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.72	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.66	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.57	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.52	DD	Dupont De Nemours	Pair Corr
0.43	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.38	MCD	McDonalds	Pair Corr
0.38	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	OTEX	IDCC	PEGA	PAYC	NICE	GTM	MANH	TTAN	ESTC	DSGX
OTEX		0.76	0.71	0.94	0.72	0.85	0.81	0.04	0.67	0.57	OTEX
IDCC	0.76		0.43	0.73	0.55	0.58	0.55	-0.22	0.58	0.31	IDCC
PEGA	0.71	0.43		0.6	0.5	0.79	0.45	0.58	0.48	0.65	PEGA
PAYC	0.94	0.73	0.6		0.72	0.74	0.89	-0.03	0.61	0.63	PAYC
NICE	0.72	0.55	0.5	0.72		0.76	0.62	-0.12	0.75	0.35	NICE
GTM	0.85	0.58	0.79	0.74	0.76		0.62	0.22	0.64	0.49	GTM
MANH	0.81	0.55	0.45	0.89	0.62	0.62		0.03	0.46	0.68	MANH
TTAN	0.04	-0.22	0.58	-0.03	-0.12	0.22	0.03		-0.17	0.58	TTAN
ESTC	0.67	0.58	0.48	0.61	0.75	0.64	0.46	-0.17		0.13	ESTC
DSGX	0.57	0.31	0.65	0.63	0.35	0.49	0.68	0.58	0.13		DSGX
	OTEX	IDCC	PEGA	PAYC	NICE	GTM	MANH	TTAN	ESTC	DSGX

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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

PAYC	+ 0.94	OTEX
MANH	+ 0.89	PAYC
GTM	+ 0.85	OTEX
MANH	+ 0.81	OTEX
GTM	+ 0.79	PEGA
IDCC	+ 0.76	OTEX

High negative correlations

TTAN	- 0.22	IDCC
ESTC	- 0.17	TTAN
TTAN	- 0.12	NICE
TTAN	- 0.03	PAYC

Risk-Adjusted Indicators

There is a big difference between Appfolio Stock performing well and Appfolio 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 Appfolio'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
OTEX	1.17	(0.51)	0.00	(0.45)	0.00	0.00	1.45	(3.91)	7.58
IDCC	2.04	(0.16)	0.00	(0.45)	0.00	0.00	3.53	(4.57)	17.55
PEGA	2.06	(0.13)	0.00	(0.17)	0.00	0.00	4.59	(4.07)	21.07
PAYC	1.43	(0.48)	0.00	(0.37)	0.00	0.00	2.58	(3.50)	13.60
NICE	1.66	(0.26)	0.00	(0.19)	0.00	0.00	3.22	(3.81)	18.80
GTM	1.84	(0.32)	0.00	(0.19)	0.00	0.00	4.11	(4.63)	16.16
MANH	1.27	(0.25)	0.00	(0.33)	0.00	0.00	2.51	(4.09)	7.48
TTAN	2.00	(0.02)	(0.02)	0.02	2.69	(1.96)	3.83	(4.54)	17.57
ESTC	1.96	(0.26)	0.00	(0.25)	0.00	0.00	3.42	(3.82)	18.64
DSGX	1.39	(0.27)	0.00	(0.30)	0.00	0.00	2.02	(3.50)	18.10

Appfolio Corporate Management

Amy Meyer	Chief Officer	Profile
Nat Kunes	VP Management	Profile
Matthew Mazza	Chief Secretary	Profile
Evan Pickering	Senior Secretary	Profile
Fay Goon	Principal Officer	Profile

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