Aptiv PLC Correlations

APTV Stock

USD 78.78 1.12 1.40%

The current 90-days correlation between Aptiv PLC and Allison Transmission Holdings is 0.48 (i.e., Very weak diversification). The correlation of Aptiv PLC 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Aptiv PLC Correlation With Market

Poor diversification

The correlation between Aptiv PLC and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aptiv PLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Aptiv Stock

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

For more information on how to buy Aptiv Stock please use our How to Invest in Aptiv PLC guide.

Moving together with Aptiv Stock

0.75	VC	Visteon Corp	Pair Corr
0.75	DORM	Dorman Products	Pair Corr
0.83	FOXF	Fox Factory Holding	Pair Corr
0.71	CPS	Cooper Stnd	Pair Corr
0.82	SMP	Standard Motor Products	Pair Corr
0.65	300998	Ningbo Fangzheng Aut	Pair Corr
0.73	GNTX	Gentex	Pair Corr
0.66	002265	Yunnan Xiyi Industrial	Pair Corr
0.8	MPAA	Motorcar Parts	Pair Corr
0.69	600114	NBTM New Materials	Pair Corr
0.66	301072	Zhongjie Technology CoLtd	Pair Corr
0.86	ADNT	Adient PLC	Pair Corr
0.7	AEVA	Aeva Technologies, Common Tech Boost	Pair Corr
0.74	301397	Chongqing Sulian Plastic	Pair Corr
0.79	605128	Shanghai Yanpu Metal	Pair Corr
0.73	300825	Iat Automobile Technology	Pair Corr
0.71	002126	Zhejiang Yinlun Machinery	Pair Corr

Moving against Aptiv Stock

0.73	HLLY	Holley Inc	Pair Corr
0.6	605255	Ningbo Tip Rubber	Pair Corr
0.57	688737	Sinocat Environmental	Pair Corr
0.44	DAN	Dana Inc	Pair Corr
0.41	MGA	Magna International	Pair Corr
0.31	LEA	Lear	Pair Corr
0.76	601279	Changchun Engley Aut	Pair Corr
0.64	002813	Shenzhen RoadRover	Pair Corr
0.55	BKHAU	Black Hawk Acquisition	Pair Corr
0.54	FINN	First National	Pair Corr
0.45	000901	Aerospace Hi Tech	Pair Corr
0.43	HYMTF	Hyundai Motor	Pair Corr
0.42	KB	KB Financial Group	Pair Corr
0.38	PKX	POSCO Holdings	Pair Corr

Related Correlations Analysis

	ALSN	LKQ	LEA	MGA	GNTX	ADNT	ALV	FOXF	DAN	AXL
ALSN		0.11	0.6	0.54	0.04	-0.26	0.29	-0.12	0.62	0.33	ALSN
LKQ	0.11		0.31	0.08	0.35	0.43	0.54	0.43	0.16	0.28	LKQ
LEA	0.6	0.31		0.85	-0.4	-0.49	0.22	-0.42	0.91	0.68	LEA
MGA	0.54	0.08	0.85		-0.5	-0.61	0.16	-0.61	0.82	0.61	MGA
GNTX	0.04	0.35	-0.4	-0.5		0.82	0.68	0.86	-0.49	-0.39	GNTX
ADNT	-0.26	0.43	-0.49	-0.61	0.82		0.49	0.91	-0.61	-0.27	ADNT
ALV	0.29	0.54	0.22	0.16	0.68	0.49		0.47	0.05	0.02	ALV
FOXF	-0.12	0.43	-0.42	-0.61	0.86	0.91	0.47		-0.54	-0.3	FOXF
DAN	0.62	0.16	0.91	0.82	-0.49	-0.61	0.05	-0.54		0.76	DAN
AXL	0.33	0.28	0.68	0.61	-0.39	-0.27	0.02	-0.3	0.76		AXL
	ALSN	LKQ	LEA	MGA	GNTX	ADNT	ALV	FOXF	DAN	AXL

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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

DAN	+ 0.91	LEA
FOXF	+ 0.91	ADNT
FOXF	+ 0.86	GNTX
MGA	+ 0.85	LEA
DAN	+ 0.82	MGA
ADNT	+ 0.82	GNTX

High negative correlations

DAN	- 0.61	ADNT
FOXF	- 0.61	MGA
ADNT	- 0.61	MGA
DAN	- 0.54	FOXF
GNTX	- 0.5	MGA
DAN	- 0.49	GNTX

Risk-Adjusted Indicators

There is a big difference between Aptiv Stock performing well and Aptiv PLC 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 Aptiv PLC'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
ALSN	1.25	0.09	0.06	0.15	1.24	(1.41)	2.74	(2.28)	5.55
LKQ	1.44	(0.16)	0.00	(0.05)	0.00	0.00	2.78	(2.55)	8.50
LEA	1.37	(0.02)	0.01	0.06	1.70	(1.38)	3.30	(3.25)	7.31
MGA	1.27	0.10	0.06	0.15	1.51	(1.30)	3.67	(2.63)	9.62
GNTX	1.09	(0.31)	0.00	(0.40)	0.00	0.00	2.06	(2.29)	12.13
ADNT	2.02	(0.47)	0.00	(0.23)	0.00	0.00	4.06	(5.12)	21.07
ALV	1.19	(0.15)	0.00	(0.05)	0.00	0.00	1.98	(3.01)	5.94
FOXF	2.77	(0.79)	0.00	(0.55)	0.00	0.00	4.32	(5.82)	29.78
DAN	1.72	0.03	0.03	0.09	1.81	(2.03)	4.81	(3.08)	11.78
AXL	2.46	(0.04)	0.02	0.05	2.96	(2.59)	5.96	(5.80)	12.66

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