Alight Correlations

ALIT Stock

USD 1.82 0.06 3.19%

The current 90-days correlation between Alight Inc and Lightspeed Commerce is 0.05 (i.e., Significant diversification). The correlation of Alight 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.

Alight Correlation With Market

Modest diversification

The correlation between Alight Inc and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alight Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alight Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alight Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Alight Stock

0.86	ADP	Automatic Data Processing	Pair Corr
0.97	KELYA	Kelly Services A	Pair Corr
0.91	NBB	Norman Broadbent Plc	Pair Corr

Moving against Alight Stock

0.91	LCDX	Caliber Imaging Diag	Pair Corr
0.85	NAUFF	NevGold Corp	Pair Corr
0.84	CASXF	Casa Minerals	Pair Corr
0.83	FTV	Fortive Corp	Pair Corr
0.8	DGWPF	Drgerwerk AG	Pair Corr
0.79	HYMTF	Hyundai Motor	Pair Corr
0.77	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.62	DB	Deutsche Bank AG	Pair Corr
0.6	BRK-B	Berkshire Hathaway	Pair Corr
0.57	KFRC	Kforce Inc	Pair Corr
0.5	SMXWW	SMX Public Limited	Pair Corr
0.47	BRK-A	Berkshire Hathaway	Pair Corr
0.33	FHELF	First Helium	Pair Corr

Related Correlations Analysis

	LSPD	KDK	PRCH	KARO	PAR	MLNK	ADEA	PD	RZLV	DV
LSPD		0.4	-0.04	0.0	0.57	0.18	0.28	0.14	-0.03	0.18	LSPD
KDK	0.4		0.04	0.1	0.31	-0.04	0.61	0.0	0.03	0.49	KDK
PRCH	-0.04	0.04		0.5	0.17	-0.61	0.63	0.77	0.91	0.52	PRCH
KARO	0.0	0.1	0.5		0.52	-0.86	0.47	0.28	0.65	0.43	KARO
PAR	0.57	0.31	0.17	0.52		-0.33	0.39	0.3	0.25	0.21	PAR
MLNK	0.18	-0.04	-0.61	-0.86	-0.33		-0.42	-0.48	-0.79	-0.24	MLNK
ADEA	0.28	0.61	0.63	0.47	0.39	-0.42		0.45	0.62	0.69	ADEA
PD	0.14	0.0	0.77	0.28	0.3	-0.48	0.45		0.76	0.19	PD
RZLV	-0.03	0.03	0.91	0.65	0.25	-0.79	0.62	0.76		0.36	RZLV
DV	0.18	0.49	0.52	0.43	0.21	-0.24	0.69	0.19	0.36		DV
	LSPD	KDK	PRCH	KARO	PAR	MLNK	ADEA	PD	RZLV	DV

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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

RZLV	+ 0.91	PRCH
PD	+ 0.77	PRCH
RZLV	+ 0.76	PD
DV	+ 0.69	ADEA
RZLV	+ 0.65	KARO
ADEA	+ 0.63	PRCH

High negative correlations

MLNK	- 0.86	KARO
RZLV	- 0.79	MLNK
MLNK	- 0.61	PRCH
PD	- 0.48	MLNK
ADEA	- 0.42	MLNK
MLNK	- 0.33	PAR

Risk-Adjusted Indicators

There is a big difference between Alight Stock performing well and Alight 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 Alight'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
LSPD	2.08	(0.03)	0.00	0.04	2.58	(2.21)	3.00	(4.61)	21.17
KDK	4.93	0.80	0.14	0.50	5.49	(5.50)	12.29	(8.32)	41.55
PRCH	2.68	(0.89)	0.00	(0.33)	0.00	0.00	4.27	(5.25)	42.64
KARO	1.82	(0.41)	0.00	(0.23)	0.00	0.00	5.33	(4.26)	23.83
PAR	2.08	(0.21)	0.00	(0.07)	0.00	0.00	4.39	(5.40)	22.24
MLNK	0.90	0.35	0.28	(0.76)	0.15	(1.32)	1.15	(0.96)	25.01
ADEA	2.73	0.04	0.03	0.07	4.11	(2.85)	5.29	(4.94)	32.90
PD	1.90	(0.40)	0.00	(1.04)	0.00	0.00	2.90	(3.76)	27.73
RZLV	5.55	(0.71)	0.00	(0.20)	0.00	0.00	13.33	(9.73)	47.21
DV	1.66	(0.16)	0.00	(0.14)	0.00	0.00	3.14	(4.22)	17.80

Alight Corporate Management

Stephen Rush	Chief Officer	Profile
Cesar Jelvez	Chief Officer	Profile
Robert Sturrus	Chief Officer	Profile
Jeremy Cohen	Vice Relations	Profile
David Essary	Chief Officer	Profile
Gregory Faje	VP Relations	Profile
Jeremy Heaton	Operating Officer	Profile

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