ALT5 Sigma Correlations

ALTS Etf

USD 1.99 0.20 9.13%

The current 90-days correlation between ALT5 Sigma and Oneconnect Financial Technology is -0.03 (i.e., Good diversification). The correlation of ALT5 Sigma 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.

ALT5 Sigma Correlation With Market

Good diversification

The correlation between ALT5 Sigma and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALT5 Sigma and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ALT5 Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ALT5 Sigma. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

For more information on how to buy ALT5 Etf please use our How to Invest in ALT5 Sigma guide.

Moving together with ALT5 Etf

0.81	HCM	HUTCHMED China	Pair Corr
0.81	300573	Shenyang Xingqi Phar	Pair Corr
0.64	002332	Zhejiang Xianju Phar	Pair Corr
0.69	ELVN	Enliven Therapeutics	Pair Corr
0.62	600422	KPC Pharmaceuticals	Pair Corr
0.83	688247	Sinotherapeutics A	Pair Corr
0.68	300601	Shenzhen Kangtai Bio	Pair Corr

Moving against ALT5 Etf

0.47	VM	Voyageur Pharmaceuticals	Pair Corr
0.65	300086	Hainan Honz Pharmace	Pair Corr
0.59	VRCA	Verrica Pharmaceuticals	Pair Corr
0.54	TLRY	Tilray Inc Split	Pair Corr
0.52	300255	Hebei Changshan Biochem	Pair Corr
0.37	EOLS	Evolus Inc	Pair Corr
0.7	EYPT	Eyepoint Pharmaceuticals	Pair Corr
0.47	AZN	AstraZeneca PLC ADR	Pair Corr
0.42	BMY	Bristol Myers Squibb	Pair Corr
0.4	BHC	Bausch Health Companies	Pair Corr
0.35	EVOK	Evoke Pharma	Pair Corr
0.31	301201	ChengDa Pharmaceuticals	Pair Corr

Related Correlations Analysis

	OCFT	SMRT	TRAK	AZ	EGHT	MRT	FRGE	ONTF	DGXX	GPRO
OCFT		0.68	-0.92	0.48	-0.22	-0.76	0.5	0.85	-0.76	-0.6	OCFT
SMRT	0.68		-0.6	-0.01	0.43	-0.4	0.6	0.42	-0.76	-0.38	SMRT
TRAK	-0.92	-0.6		-0.4	0.33	0.71	-0.63	-0.85	0.72	0.75	TRAK
AZ	0.48	-0.01	-0.4		-0.44	-0.36	-0.29	0.62	0.04	0.05	AZ
EGHT	-0.22	0.43	0.33	-0.44		0.35	0.13	-0.38	-0.1	0.27	EGHT
MRT	-0.76	-0.4	0.71	-0.36	0.35		-0.28	-0.73	0.67	0.43	MRT
FRGE	0.5	0.6	-0.63	-0.29	0.13	-0.28		0.35	-0.68	-0.82	FRGE
ONTF	0.85	0.42	-0.85	0.62	-0.38	-0.73	0.35		-0.56	-0.58	ONTF
DGXX	-0.76	-0.76	0.72	0.04	-0.1	0.67	-0.68	-0.56		0.62	DGXX
GPRO	-0.6	-0.38	0.75	0.05	0.27	0.43	-0.82	-0.58	0.62		GPRO
	OCFT	SMRT	TRAK	AZ	EGHT	MRT	FRGE	ONTF	DGXX	GPRO

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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

ONTF	+ 0.85	OCFT
GPRO	+ 0.75	TRAK
DGXX	+ 0.72	TRAK
MRT	+ 0.71	TRAK
SMRT	+ 0.68	OCFT
DGXX	+ 0.67	MRT

High negative correlations

TRAK	- 0.92	OCFT
ONTF	- 0.85	TRAK
GPRO	- 0.82	FRGE
DGXX	- 0.76	SMRT
DGXX	- 0.76	OCFT
MRT	- 0.76	OCFT

ALT5 Sigma Constituents Risk-Adjusted Indicators

There is a big difference between ALT5 Etf performing well and ALT5 Sigma ETF 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 ALT5 Sigma'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
OCFT	0.57	0.12	0.04	(0.51)	0.52	(0.79)	1.55	(1.11)	4.57
SMRT	2.33	0.36	0.15	0.56	2.06	(3.16)	5.75	(4.06)	21.69
TRAK	1.59	(0.55)	0.00	(0.51)	0.00	0.00	2.24	(4.38)	9.78
AZ	3.63	(0.02)	0.02	0.06	5.15	(3.33)	7.60	(7.12)	25.03
EGHT	2.51	(0.23)	0.00	(0.05)	0.00	0.00	4.40	(4.84)	34.75
MRT	2.22	(0.21)	0.00	(0.35)	0.00	0.00	7.14	(4.19)	20.77
FRGE	3.31	1.86	1.69	(1.06)	0.00	(3.94)	11.43	(0.98)	69.57
ONTF	2.20	0.60	0.29	0.59	1.45	(3.00)	4.60	(3.14)	38.78
DGXX	6.47	(0.28)	0.00	(4.00)	0.00	0.00	17.87	(12.53)	46.52
GPRO	3.02	(0.81)	0.00	(0.37)	0.00	0.00	4.73	(7.93)	18.60

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