Applovin Corp Correlations

APP Stock

USD 364.46 0.68 0.19%

The current 90-days correlation between Applovin Corp and Workday is 0.37 (i.e., Weak diversification). The correlation of Applovin Corp 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.

Applovin Corp Correlation With Market

Very weak diversification

The correlation between Applovin Corp and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Applovin Corp and DJI in the same portfolio, assuming nothing else is changed.

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

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Moving together with Applovin Stock

0.87	TTD	Trade Desk	Pair Corr
0.67	DIOD	Diodes Incorporated	Pair Corr
0.76	AI	C3 Ai Inc	Pair Corr
0.72	BB	BlackBerry	Pair Corr
0.9	BL	Blackline	Pair Corr
0.86	DT	Dynatrace Holdings LLC	Pair Corr
0.69	DV	DoubleVerify Holdings	Pair Corr
0.64	JG	Aurora Mobile	Pair Corr
0.84	KD	Kyndryl Holdings	Pair Corr
0.8	KE	Kimball Electronics	Pair Corr
0.68	KN	Knowles Cor Earnings Call This Week	Pair Corr
0.61	MI	NFT Limited	Pair Corr
0.74	MQ	Marqeta	Pair Corr
0.64	MU	Micron Technology	Pair Corr
0.73	MX	MagnaChip Semiconductor	Pair Corr
0.89	PI	Impinj Inc Earnings Call This Week	Pair Corr
0.84	UI	Ubiquiti Networks Tech Boost	Pair Corr
0.69	ZM	Zoom Video Communications	Pair Corr
0.71	ZS	Zscaler	Pair Corr
0.65	DMRC	Digimarc	Pair Corr
0.69	DOMO	Domo Inc Upward Rally	Pair Corr

Moving against Applovin Stock

0.82	FI	Fiserv, Earnings Call This Week	Pair Corr
0.65	QH	Quhuo Tech Boost	Pair Corr
0.65	VERI	Veritone Tech Boost	Pair Corr

Related Correlations Analysis

	WDAY	SNOW	AI	ZM	INTU	MNDY	TEAM	DDOG	GTLB	DOCU
WDAY		0.03	0.04	0.91	-0.04	0.39	0.54	-0.05	0.8	0.72	WDAY
SNOW	0.03		0.82	0.28	0.98	0.86	-0.32	0.91	-0.08	-0.1	SNOW
AI	0.04	0.82		0.27	0.82	0.76	-0.18	0.84	0.11	0.07	AI
ZM	0.91	0.28	0.27		0.23	0.61	0.47	0.15	0.78	0.77	ZM
INTU	-0.04	0.98	0.82	0.23		0.84	-0.34	0.86	-0.14	-0.13	INTU
MNDY	0.39	0.86	0.76	0.61	0.84		0.1	0.76	0.34	0.26	MNDY
TEAM	0.54	-0.32	-0.18	0.47	-0.34	0.1		-0.29	0.76	0.59	TEAM
DDOG	-0.05	0.91	0.84	0.15	0.86	0.76	-0.29		-0.05	-0.16	DDOG
GTLB	0.8	-0.08	0.11	0.78	-0.14	0.34	0.76	-0.05		0.78	GTLB
DOCU	0.72	-0.1	0.07	0.77	-0.13	0.26	0.59	-0.16	0.78		DOCU
	WDAY	SNOW	AI	ZM	INTU	MNDY	TEAM	DDOG	GTLB	DOCU

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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

INTU	+ 0.98	SNOW
ZM	+ 0.91	WDAY
DDOG	+ 0.91	SNOW
MNDY	+ 0.86	SNOW
DDOG	+ 0.86	INTU
DDOG	+ 0.84	AI

High negative correlations

TEAM	- 0.34	INTU
TEAM	- 0.32	SNOW
DDOG	- 0.29	TEAM
TEAM	- 0.18	AI
DOCU	- 0.16	DDOG
GTLB	- 0.14	INTU

Risk-Adjusted Indicators

There is a big difference between Applovin Stock performing well and Applovin Corp 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 Applovin Corp'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
WDAY	1.33	(0.14)	(0.03)	0.02	3.05	(1.10)	2.85	(2.94)	17.86
SNOW	1.55	0.50	0.29	0.60	0.97	(1.70)	4.41	(2.06)	16.92
AI	2.66	0.39	0.19	0.37	2.22	(3.74)	5.28	(4.06)	26.86
ZM	0.93	(0.02)	(0.06)	0.10	1.15	(0.96)	1.85	(1.79)	7.05
INTU	1.09	0.26	0.21	0.46	0.71	(1.30)	2.59	(1.60)	10.80
MNDY	1.84	0.08	0.06	0.19	2.27	(1.95)	4.05	(3.41)	13.49
TEAM	2.11	(0.17)	0.00	(0.01)	0.00	0.00	3.98	(5.42)	17.51
DDOG	1.75	0.58	0.35	0.68	1.19	(2.19)	4.17	(2.24)	19.16
GTLB	2.14	(0.05)	0.00	0.09	3.19	(2.10)	5.20	(5.10)	17.00
DOCU	2.05	(0.03)	0.00	0.11	3.89	(2.13)	4.38	(4.05)	24.45

Applovin Corp Corporate Management

Victoria Valenzuela	Chief Secretary	Profile
Dmitriy Dorosh	Vice Officer	Profile
Jordan Satok	Vice Development	Profile
Ryan Gee	Head Finance	Profile
Christina Seafort	Chief Officer	Profile
Adam Foroughi	CEO CoFounder	Profile
Katie Jansen	Chief Officer	Profile

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