Aptiv PLC Correlations

APTV Stock

USD 55.53 0.01 0.02%

The current 90-days correlation between Aptiv PLC and Allison Transmission Holdings is 0.2 (i.e., Modest 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

Weak diversification

The correlation between Aptiv PLC and DJI is 0.33 (i.e., Weak 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.

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 estimate.

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

Moving together with Aptiv Stock

0.91	FOXF	Fox Factory Holding	Pair Corr
0.9	HMC	Honda Motor	Pair Corr
0.69	HOG	Harley Davidson	Pair Corr
0.82	ZAPP	Zapp Electric Vehicles	Pair Corr
0.8	LCID	Lucid Group Aggressive Push	Pair Corr
0.75	RACE	Ferrari NV	Pair Corr
0.76	DOOO	BRP Inc	Pair Corr
0.8	WING	Wingstop	Pair Corr

Moving against Aptiv Stock

0.81	GM	General Motors	Pair Corr
0.61	RL	Ralph Lauren Corp	Pair Corr
0.49	XPEV	Xpeng Inc	Pair Corr
0.4	MTEN	Mingteng International	Pair Corr
0.35	F	Ford Motor Aggressive Push	Pair Corr
0.32	HD	Home Depot	Pair Corr
0.87	VSCO	Victorias Secret	Pair Corr
0.84	WRBY	Warby Parker	Pair Corr
0.8	EXPE	Expedia Group	Pair Corr
0.78	FLXS	Flexsteel Industries	Pair Corr
0.74	WEYS	Weyco Group	Pair Corr
0.74	EVRI	Everi Holdings	Pair Corr
0.61	ADT	ADT Inc	Pair Corr
0.59	AGS	PlayAGS	Pair Corr
0.57	DOGZ	Dogness International	Pair Corr
0.49	UA	Under Armour C	Pair Corr

Related Correlations Analysis

	ALSN	LKQ	LEA	MGA	GNTX	ADNT	ALV	FOXF	DAN	AXL
ALSN		-0.52	-0.81	0.8	0.33	-0.64	0.41	-0.79	-0.64	0.56	ALSN
LKQ	-0.52		0.76	-0.12	0.01	0.53	0.22	0.53	0.56	0.23	LKQ
LEA	-0.81	0.76		-0.48	-0.1	0.86	-0.11	0.84	0.82	-0.09	LEA
MGA	0.8	-0.12	-0.48		0.48	-0.36	0.59	-0.55	-0.33	0.8	MGA
GNTX	0.33	0.01	-0.1	0.48		-0.05	0.48	-0.2	-0.15	0.43	GNTX
ADNT	-0.64	0.53	0.86	-0.36	-0.05		-0.21	0.89	0.79	0.02	ADNT
ALV	0.41	0.22	-0.11	0.59	0.48	-0.21		-0.46	-0.2	0.62	ALV
FOXF	-0.79	0.53	0.84	-0.55	-0.2	0.89	-0.46		0.79	-0.23	FOXF
DAN	-0.64	0.56	0.82	-0.33	-0.15	0.79	-0.2	0.79		0.08	DAN
AXL	0.56	0.23	-0.09	0.8	0.43	0.02	0.62	-0.23	0.08		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	+ 0.89	ADNT
ADNT	+ 0.86	LEA
FOXF	+ 0.84	LEA
DAN	+ 0.82	LEA
MGA	+ 0.8	ALSN
AXL	+ 0.8	MGA

High negative correlations

LEA	- 0.81	ALSN
FOXF	- 0.79	ALSN
DAN	- 0.64	ALSN
ADNT	- 0.64	ALSN
FOXF	- 0.55	MGA
LKQ	- 0.52	ALSN

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	1.19	0.22	0.24	0.28	0.78	(1.44)	2.73	(1.39)	9.25
LKQ	1.06	(0.20)	0.00	(0.10)	0.00	0.00	2.60	(2.48)	7.01
LEA	1.49	(0.40)	0.00	(0.19)	0.00	0.00	3.00	(3.53)	9.76
MGA	1.62	(0.02)	0.01	0.11	2.26	(1.52)	3.06	(3.95)	11.56
GNTX	1.13	(0.10)	(0.09)	(0.01)	1.43	(1.17)	2.24	(2.36)	7.93
ADNT	1.90	(0.39)	0.00	(0.14)	0.00	0.00	4.08	(4.22)	10.66
ALV	1.54	(0.13)	(0.07)	(0.01)	1.84	(1.59)	2.80	(3.14)	8.85
FOXF	1.96	(0.53)	0.00	(0.14)	0.00	0.00	3.31	(4.97)	15.31
DAN	2.79	(0.41)	0.00	(0.03)	0.00	0.00	5.53	(5.70)	22.77
AXL	2.02	(0.20)	(0.03)	0.03	2.20	(2.23)	5.00	(3.27)	12.38

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