Applied Digital Correlations

APLD Stock

USD 30.62 1.92 5.90%

The current 90-days correlation between Applied Digital and Genpact Limited is -0.15 (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

Good diversification

The correlation between Applied Digital and DJI is -0.07 (i.e., Good 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

0.68	DUOT	Duos Technologies	Pair Corr
0.95	EGAN	eGain	Pair Corr
0.71	APP	Applovin Corp	Pair Corr
0.76	LAW	CS Disco LLC Upward Rally	Pair Corr
0.62	LIF	Life360, Common Stock	Pair Corr

Moving against Applied Stock

0.9	DV	DoubleVerify Holdings Tech Boost	Pair Corr
0.89	FRSH	Freshworks	Pair Corr
0.74	JG	Aurora Mobile	Pair Corr
0.73	CXM	Sprinklr	Pair Corr
0.72	AUR	Aurora Innovation Earnings Call This Week	Pair Corr
0.7	EXFY	Expensify	Pair Corr
0.56	MRT	Marti Technologies	Pair Corr
0.52	FATN	FatPipe, Common Stock Earnings Call This Week	Pair Corr
0.52	FRGT	Freight Technologies	Pair Corr
0.49	PTC	PTC Inc	Pair Corr
0.48	BL	Blackline Tech Boost	Pair Corr
0.41	MTC	MMTEC Inc	Pair Corr
0.37	300609	Winner Information	Pair Corr
0.34	688590	Shanghai Newtouch	Pair Corr
0.33	CRM	Salesforce Tech Boost	Pair Corr
0.83	TYL	Tyler Technologies	Pair Corr
0.83	STC	Sangoma Technologies Corp	Pair Corr
0.8	ULY	Urgently Common Stock	Pair Corr
0.8	S247	Smarttech247 Group PLC	Pair Corr
0.77	HUBC	Hub Cyber Security	Pair Corr
0.61	INTU	Intuit Inc	Pair Corr
0.49	TTD	Trade Desk Sell-off Trend	Pair Corr
0.45	INTA	Intapp Inc	Pair Corr
0.44	HUBS	HubSpot	Pair Corr
0.41	CRM	SalesforceCom CDR	Pair Corr
0.37	SAP	SAP SE ADR	Pair Corr

Related Correlations Analysis

	G	KD	TISNF	AUR	DLB	EXLS	ISMAF	FCCN	EPAM	DLGEF
G		0.63	0.0	0.59	0.84	0.66	-0.45	0.18	0.91	0.0	G
KD	0.63		0.0	0.46	0.74	0.3	-0.15	0.1	0.52	0.0	KD
TISNF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	TISNF
AUR	0.59	0.46	0.0		0.7	0.24	-0.35	0.17	0.44	0.0	AUR
DLB	0.84	0.74	0.0	0.7		0.57	-0.4	0.05	0.71	0.0	DLB
EXLS	0.66	0.3	0.0	0.24	0.57		-0.73	-0.05	0.61	0.0	EXLS
ISMAF	-0.45	-0.15	0.0	-0.35	-0.4	-0.73		-0.04	-0.35	0.0	ISMAF
FCCN	0.18	0.1	0.0	0.17	0.05	-0.05	-0.04		0.13	0.0	FCCN
EPAM	0.91	0.52	0.0	0.44	0.71	0.61	-0.35	0.13		0.0	EPAM
DLGEF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		DLGEF
	G	KD	TISNF	AUR	DLB	EXLS	ISMAF	FCCN	EPAM	DLGEF

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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

EPAM	+ 0.91	G
DLB	+ 0.84	G
DLB	+ 0.74	KD
EPAM	+ 0.71	DLB
DLB	+ 0.7	AUR
EXLS	+ 0.66	G

High negative correlations

ISMAF	- 0.73	EXLS
ISMAF	- 0.45	G
ISMAF	- 0.4	DLB
EPAM	- 0.35	ISMAF
ISMAF	- 0.35	AUR
ISMAF	- 0.15	KD

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
G	1.01	(0.27)	(0.20)	1.78	(2.02)	6.46
KD	1.77	(0.55)	(0.24)	2.58	(3.82)	23.26
TISNF	0.00	0.00	0.00	0.00	0.00	0.00
AUR	2.50	(0.43)	(0.16)	3.91	(5.06)	12.63
DLB	1.03	(0.29)	(0.12)	1.85	(2.77)	7.59
EXLS	1.06	(0.13)	(0.08)	1.93	(1.76)	5.23
ISMAF	0.65	0.17	(3.89)	1.93	0.00	12.76
FCCN	2.58	(0.18)	0.89	5.85	(4.80)	18.25
EPAM	1.82	(0.23)	(0.04)	4.37	(4.12)	12.37
DLGEF	0.00	0.00	0.00	0.00	0.00	0.00

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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