Alkemy Capital Correlations

ALK Stock

122.50 7.50 5.77%

The current 90-days correlation between Alkemy Capital Inves and Samsung Electronics Co is -0.08 (i.e., Good diversification). The correlation of Alkemy Capital 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.

Alkemy Capital Correlation With Market

Good diversification

The correlation between Alkemy Capital Investments and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alkemy Capital Investments and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Alkemy Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alkemy Capital 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 Alkemy Capital - 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 Alkemy Capital Investments to buy it.

Moving together with Alkemy Stock

0.85	OBI	Ondine Biomedical	Pair Corr
0.74	MOON	Moonpig Group PLC	Pair Corr
0.85	PCIP	PCI PAL PLC	Pair Corr
0.77	DEC	Diversified Energy	Pair Corr

Moving against Alkemy Stock

0.78	REVB	Revolution Beauty	Pair Corr
0.7	BIOM	Biome Technologies Plc	Pair Corr
0.66	HTWS	Helios Towers Plc	Pair Corr
0.62	SYME	SupplyMe Capital PLC	Pair Corr

Related Correlations Analysis

	SMSD	SMSN	HYUD	TYT	0RUK	RIGD	0R15	HHPD	SBID
SMSD		0.99	0.81	-0.1	0.15	0.92	-0.02	-0.75	-0.2	SMSD
SMSN	0.99		0.8	-0.12	0.16	0.92	-0.01	-0.75	-0.16	SMSN
HYUD	0.81	0.8		-0.36	0.17	0.85	-0.27	-0.59	-0.4	HYUD
TYT	-0.1	-0.12	-0.36		-0.1	-0.24	0.71	0.28	0.47	TYT
0RUK	0.15	0.16	0.17	-0.1		0.18	-0.06	-0.13	-0.04	0RUK
RIGD	0.92	0.92	0.85	-0.24	0.18		-0.19	-0.77	-0.28	RIGD
0R15	-0.02	-0.01	-0.27	0.71	-0.06	-0.19		0.39	0.6	0R15
HHPD	-0.75	-0.75	-0.59	0.28	-0.13	-0.77	0.39		0.41	HHPD
SBID	-0.2	-0.16	-0.4	0.47	-0.04	-0.28	0.6	0.41		SBID
	SMSD	SMSN	HYUD	TYT	0RUK	RIGD	0R15	HHPD	SBID

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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

SMSN	+ 0.99	SMSD
RIGD	+ 0.92	SMSD
RIGD	+ 0.92	SMSN
RIGD	+ 0.85	HYUD
HYUD	+ 0.81	SMSD
HYUD	+ 0.8	SMSN

High negative correlations

HHPD	- 0.77	RIGD
HHPD	- 0.75	SMSN
HHPD	- 0.75	SMSD
HHPD	- 0.59	HYUD
SBID	- 0.4	HYUD
TYT	- 0.36	HYUD

Risk-Adjusted Indicators

There is a big difference between Alkemy Stock performing well and Alkemy Capital 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 Alkemy Capital'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
SMSD	1.55	(0.46)	0.00	(2.03)	0.00	0.00	2.80	(3.78)	10.21
SMSN	1.67	(0.53)	0.00	(3.22)	0.00	0.00	3.19	(4.02)	13.39
HYUD	1.88	(0.12)	0.00	0.50	0.00	0.00	4.76	(3.64)	12.58
TYT	1.41	(0.08)	0.00	(0.20)	0.00	0.00	3.04	(3.19)	12.68
0RUK	0.66	0.03	0.00	(1.24)	0.00	0.00	0.00	0.00	21.03
RIGD	1.10	(0.33)	0.00	(0.52)	0.00	0.00	2.47	(2.70)	7.89
0R15	2.58	(0.24)	0.00	(0.67)	0.00	0.00	5.19	(6.63)	15.31
HHPD	1.56	0.01	(0.03)	0.15	1.87	(1.69)	3.14	(3.02)	8.38
SBID	1.14	(0.05)	(0.06)	0.05	1.35	(1.29)	2.44	(2.41)	8.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alkemy Capital without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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