Aptiv PLC Correlations

APTV Stock

USD 81.60 0.96 1.16%

The current 90-days correlation between Aptiv PLC and LKQ Corporation is 0.47 (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 0.64 (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

0.76	605255	Ningbo Tip Rubber	Pair Corr
0.76	MPAA	Motorcar Parts Earnings Call This Week	Pair Corr
0.77	600114	NBTM New Materials	Pair Corr
0.77	ABV	Advanced Braking Tec	Pair Corr
0.71	605128	Shanghai Yanpu Metal	Pair Corr
0.76	002126	Zhejiang Yinlun Machinery	Pair Corr

Moving against Aptiv Stock

0.74	002265	Yunnan Xiyi Industrial	Pair Corr
0.64	000678	Xiangyang Automobile	Pair Corr
0.6	600698	Hunan Tyen Machinery	Pair Corr
0.5	ZFCVINDIA	ZF Commercial Vehicle	Pair Corr
0.38	688737	Sinocat Environmental	Pair Corr
0.37	301072	Zhongjie Technology CoLtd	Pair Corr
0.79	CJET	Chijet Motor ,	Pair Corr
0.69	PPERY	Bank Mandiri Persero	Pair Corr
0.6	PBCRY	Bank Central Asia	Pair Corr
0.35	300825	Iat Automobile Technology	Pair Corr

Related Correlations Analysis

	ALSN	LKQ	LEA	MGA	GNTX	ADNT	ALV	FOXF	DAN	AXL
ALSN		0.6	0.36	-0.21	0.72	0.48	0.44	0.84	0.08	-0.12	ALSN
LKQ	0.6		0.78	0.24	0.32	0.42	0.53	0.52	0.57	0.31	LKQ
LEA	0.36	0.78		0.51	0.06	0.14	0.58	0.23	0.79	0.46	LEA
MGA	-0.21	0.24	0.51		-0.2	-0.03	0.54	-0.43	0.71	0.67	MGA
GNTX	0.72	0.32	0.06	-0.2		0.67	0.57	0.69	-0.14	-0.27	GNTX
ADNT	0.48	0.42	0.14	-0.03	0.67		0.5	0.55	-0.01	0.09	ADNT
ALV	0.44	0.53	0.58	0.54	0.57	0.5		0.2	0.52	0.26	ALV
FOXF	0.84	0.52	0.23	-0.43	0.69	0.55	0.2		-0.18	-0.31	FOXF
DAN	0.08	0.57	0.79	0.71	-0.14	-0.01	0.52	-0.18		0.78	DAN
AXL	-0.12	0.31	0.46	0.67	-0.27	0.09	0.26	-0.31	0.78		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

FOXF	+ 0.84	ALSN
DAN	+ 0.79	LEA
LEA	+ 0.78	LKQ
AXL	+ 0.78	DAN
GNTX	+ 0.72	ALSN
DAN	+ 0.71	MGA

High negative correlations

FOXF	- 0.43	MGA
AXL	- 0.31	FOXF
AXL	- 0.27	GNTX
MGA	- 0.21	ALSN
GNTX	- 0.2	MGA
DAN	- 0.18	FOXF

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	1.13	(0.20)	0.00	(0.07)	0.00	0.00	2.16	(2.11)	5.80
LKQ	1.36	(0.07)	0.00	0.05	1.64	(1.39)	3.04	(2.44)	10.05
LEA	1.22	0.06	0.06	0.14	1.29	(1.24)	3.23	(2.15)	8.74
MGA	1.21	0.12	0.10	0.19	1.23	(1.41)	4.23	(1.87)	9.64
GNTX	1.13	(0.16)	0.00	0.72	0.00	0.00	1.99	(2.29)	12.89
ADNT	1.89	(0.30)	0.00	(0.07)	0.00	0.00	4.36	(4.18)	22.19
ALV	1.00	0.01	0.03	0.11	1.29	(0.96)	1.98	(2.62)	7.72
FOXF	2.37	(0.99)	0.00	(0.34)	0.00	0.00	3.32	(4.45)	32.40
DAN	1.53	0.19	0.14	0.24	1.35	(1.84)	4.65	(2.59)	10.70
AXL	2.14	0.12	0.06	0.18	2.57	(2.29)	4.92	(3.46)	12.47

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