Applied Opt Correlations

AAOI Stock

USD 28.63 0.79 2.69%

The current 90-days correlation between Applied Opt and Knowles Cor is 0.57 (i.e., Very weak diversification). The correlation of Applied Opt 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 Opt Correlation With Market

Very weak diversification

The correlation between Applied Opt and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applied Opt 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 Opt. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Applied Stock

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0.91	LITE	Lumentum Holdings	Pair Corr
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0.62	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.82	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.71	RGTI	Rigetti Computing Trending	Pair Corr
0.91	ADTN	ADTRAN Inc	Pair Corr
0.86	AVNW	Aviat Networks	Pair Corr
0.76	CRNT	Ceragon Networks	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.84	VRRM	Verra Mobility Corp	Pair Corr
0.88	ENLV	Enlivex Therapeutics	Pair Corr
0.84	FRGE	Forge Global Holdings	Pair Corr
0.85	IBM	International Business Earnings Call This Week	Pair Corr
0.88	INTC	Intel Earnings Call This Week	Pair Corr
0.84	ITRN	Ituran Location	Pair Corr
0.67	MITK	Mitek Systems Earnings Call This Week	Pair Corr
0.72	ALLT	Allot Communications	Pair Corr
0.89	AMBA	Ambarella	Pair Corr
0.93	CAMT	Camtek	Pair Corr
0.64	GITS	Global Interactive Symbol Change	Pair Corr
0.81	PFE	Pfizer Inc	Pair Corr
0.95	CAT	Caterpillar	Pair Corr
0.9	AXP	American Express	Pair Corr
0.82	DIS	Walt Disney	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr

Moving against Applied Stock

0.63	QMCO	Quantum	Pair Corr
0.72	MCD	McDonalds	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.62	KO	Coca Cola Earnings Call This Week	Pair Corr
0.52	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.44	07274NBG7	BAYNGR 5 15	Pair Corr

Related Correlations Analysis

	FN	KE	KN	UI	DSWL	AMPGW	VRME	VSAT	EBON
FN		0.84	0.88	0.7	0.84	0.44	0.41	0.93	0.37	FN
KE	0.84		0.91	0.88	0.66	0.55	0.57	0.73	0.37	KE
KN	0.88	0.91		0.82	0.72	0.44	0.62	0.8	0.4	KN
UI	0.7	0.88	0.82		0.58	0.5	0.51	0.56	0.5	UI
DSWL	0.84	0.66	0.72	0.58		0.43	0.14	0.89	0.51	DSWL
AMPGW	0.44	0.55	0.44	0.5	0.43		0.11	0.35	0.27	AMPGW
VRME	0.41	0.57	0.62	0.51	0.14	0.11		0.22	0.13	VRME
VSAT	0.93	0.73	0.8	0.56	0.89	0.35	0.22		0.35	VSAT
EBON	0.37	0.37	0.4	0.5	0.51	0.27	0.13	0.35		EBON
	FN	KE	KN	UI	DSWL	AMPGW	VRME	VSAT	EBON

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Risk-Adjusted Indicators

There is a big difference between Applied Stock performing well and Applied Opt 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 Opt'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
FN	2.02	0.56	0.27	0.48	1.88	(2.47)	5.54	(2.71)	13.79
KE	1.75	0.56	0.29	3.02	1.11	(2.21)	3.48	(2.58)	28.41
KN	1.37	0.15	0.11	0.26	1.28	(1.55)	2.92	(2.13)	8.94
UI	2.16	0.46	0.19	0.46	2.08	(2.42)	5.00	(3.41)	24.70
DSWL	1.65	0.41	0.16	1.29	1.42	(2.27)	3.93	(2.52)	10.75
AMPGW	8.55	0.79	0.08	0.47	9.82	(11.96)	23.68	(13.64)	67.35
VRME	2.56	0.10	0.02	0.25	3.17	(3.61)	6.49	(5.97)	30.60
VSAT	2.74	1.02	0.28	61.11	2.44	(3.47)	7.79	(4.33)	18.36
EBON	3.34	0.49	0.16	0.47	2.82	(4.19)	8.22	(5.21)	43.59

Applied Opt Corporate Management

David Kuo	VP, General Counsel and Secretary	Profile
Lindsay Savarese	Investor Relations	Profile
Todd McCrum	Senior Access	Profile
Jessica Hung	VP Controller	Profile

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