Apple (Mexico) Market Value
AAPL Stock | MXN 2,874 40.39 1.43% |
Symbol | Apple |
Apple 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Apple's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Apple.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in Apple on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Apple Inc or generate 0.0% return on investment in Apple over 30 days. Apple is related to or competes with Deutsche Bank, Southern Copper, Grupo Sports, Costco Wholesale, KB Home, DXC Technology, and Grupo Carso. Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories world... More
Apple Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Apple's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Apple Inc upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.26) | |||
Maximum Drawdown | 7.01 | |||
Value At Risk | (2.88) | |||
Potential Upside | 1.69 |
Apple Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Apple's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Apple's standard deviation. In reality, there are many statistical measures that can use Apple historical prices to predict the future Apple's volatility.Risk Adjusted Performance | (0.08) | |||
Jensen Alpha | (0.25) | |||
Total Risk Alpha | (0.51) | |||
Treynor Ratio | (0.83) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Apple's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Apple Inc Backtested Returns
Apple Inc secures Sharpe Ratio (or Efficiency) of -0.15, which signifies that the company had a -0.15% return per unit of risk over the last 3 months. Apple Inc exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Apple's Mean Deviation of 0.9558, risk adjusted performance of (0.08), and Standard Deviation of 1.3 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.26, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Apple's returns are expected to increase less than the market. However, during the bear market, the loss of holding Apple is expected to be smaller as well. Apple Inc has an expected return of -0.2%. Please make sure to confirm Apple Inc maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Apple Inc performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.27 |
Poor predictability
Apple Inc has poor predictability. Overlapping area represents the amount of predictability between Apple time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Apple Inc price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Apple price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.27 | |
Spearman Rank Test | 0.14 | |
Residual Average | 0.0 | |
Price Variance | 1908.52 |
Apple Inc lagged returns against current returns
Autocorrelation, which is Apple stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Apple's stock expected returns. We can calculate the autocorrelation of Apple returns to help us make a trade decision. For example, suppose you find that Apple has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
Timeline |
Apple regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Apple stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Apple stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Apple stock over time.
Current vs Lagged Prices |
Timeline |
Apple Lagged Returns
When evaluating Apple's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Apple stock have on its future price. Apple autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Apple autocorrelation shows the relationship between Apple stock current value and its past values and can show if there is a momentum factor associated with investing in Apple Inc.
Regressed Prices |
Timeline |
Pair Trading with Apple
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Apple position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Apple will appreciate offsetting losses from the drop in the long position's value.Moving together with Apple Stock
0.71 | SMSNN | Samsung Electronics | PairCorr |
Moving against Apple Stock
0.82 | JPM | JPMorgan Chase | PairCorr |
0.81 | BAC | Bank Of America | PairCorr |
0.74 | C | Citigroup | PairCorr |
0.64 | TSMN | Taiwan Semiconductor | PairCorr |
0.57 | TMN | Toyota Motor | PairCorr |
The ability to find closely correlated positions to Apple could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Apple when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Apple - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Apple Inc to buy it.
The correlation of Apple 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Apple moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Apple Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Apple can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Apple Correlation, Apple Volatility and Apple Alpha and Beta module to complement your research on Apple. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Complementary Tools for Apple Stock analysis
When running Apple's price analysis, check to measure Apple's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Apple is operating at the current time. Most of Apple's value examination focuses on studying past and present price action to predict the probability of Apple's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Apple's price. Additionally, you may evaluate how the addition of Apple to your portfolios can decrease your overall portfolio volatility.
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Apple technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.