Alpha Technology Correlations

ATGL Stock

17.03 0.66 4.03%

The current 90-days correlation between Alpha Technology and Paysign is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alpha Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alpha Technology Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alpha Technology Correlation With Market

Very good diversification

The correlation between Alpha Technology Group and DJI is -0.42 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Technology Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alpha Stock

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

Moving together with Alpha Stock

0.68	IT	Gartner	Pair Corr
0.72	KD	Kyndryl Holdings	Pair Corr
0.62	CVB	Computer And Technologies	Pair Corr
0.69	RZC	CAICA Inc	Pair Corr
0.72	7XU	KYNDRYL HLDGS INC	Pair Corr
0.61	CDW	CDW Corporation	Pair Corr
0.61	EPAM	EPAM Systems	Pair Corr
0.62	NCR1	NCR Corporation	Pair Corr
0.67	LHV	ExlService Holdings	Pair Corr
0.67	ACN	Accenture plc	Pair Corr

Moving against Alpha Stock

0.57	MI	NFT Limited	Pair Corr
0.37	FDM	FDM Group Holdings	Pair Corr
0.32	BEO	Beonic	Pair Corr
0.47	G40	GDS Holdings Limited	Pair Corr
0.47	ALPRO	Prodware Earnings Call This Week	Pair Corr
0.35	XTIA	XTI Aerospace	Pair Corr

Related Correlations Analysis

	PAYS	KLTR	DGXX	SMRT	EGHT	AZ	PDYN	ALTS	TCX	TRAK
PAYS		0.79	0.56	0.68	-0.48	0.24	-0.77	-0.11	0.63	0.92	PAYS
KLTR	0.79		0.19	0.74	-0.35	0.19	-0.65	-0.13	0.56	0.77	KLTR
DGXX	0.56	0.19		-0.03	-0.42	0.18	-0.21	0.24	0.27	0.59	DGXX
SMRT	0.68	0.74	-0.03		-0.07	0.04	-0.73	-0.44	0.37	0.6	SMRT
EGHT	-0.48	-0.35	-0.42	-0.07		-0.54	0.03	-0.51	-0.69	-0.25	EGHT
AZ	0.24	0.19	0.18	0.04	-0.54		0.21	0.55	0.64	0.1	AZ
PDYN	-0.77	-0.65	-0.21	-0.73	0.03	0.21		0.58	-0.19	-0.79	PDYN
ALTS	-0.11	-0.13	0.24	-0.44	-0.51	0.55	0.58		0.51	-0.2	ALTS
TCX	0.63	0.56	0.27	0.37	-0.69	0.64	-0.19	0.51		0.44	TCX
TRAK	0.92	0.77	0.59	0.6	-0.25	0.1	-0.79	-0.2	0.44		TRAK
	PAYS	KLTR	DGXX	SMRT	EGHT	AZ	PDYN	ALTS	TCX	TRAK

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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

TRAK	+ 0.92	PAYS
KLTR	+ 0.79	PAYS
TRAK	+ 0.77	KLTR
SMRT	+ 0.74	KLTR
SMRT	+ 0.68	PAYS
TCX	+ 0.64	AZ

High negative correlations

TRAK	- 0.79	PDYN
PDYN	- 0.77	PAYS
PDYN	- 0.73	SMRT
TCX	- 0.69	EGHT
PDYN	- 0.65	KLTR
AZ	- 0.54	EGHT

Risk-Adjusted Indicators

There is a big difference between Alpha Stock performing well and Alpha Technology 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 Alpha Technology'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
PAYS	2.09	(0.44)	0.00	1.90	0.00	0.00	4.24	(4.16)	13.72
KLTR	2.95	(0.22)	0.00	(0.13)	0.00	0.00	5.44	(6.15)	16.69
DGXX	4.82	(0.14)	0.00	(0.12)	0.00	0.00	9.41	(9.12)	46.52
SMRT	2.32	0.19	0.05	0.63	2.36	(3.17)	5.75	(4.06)	22.64
EGHT	3.32	0.23	0.07	0.23	3.57	(3.90)	5.66	(5.94)	54.85
AZ	3.27	(0.12)	(0.01)	0.03	4.20	(3.06)	7.60	(5.96)	25.03
PDYN	5.45	0.43	0.11	0.21	5.20	(6.89)	13.96	(7.57)	34.34
ALTS	6.23	(0.19)	(0.01)	0.01	6.27	(8.24)	15.07	(10.24)	49.03
TCX	2.52	(0.22)	0.00	(0.23)	0.00	0.00	4.88	(5.34)	16.74
TRAK	1.95	(0.76)	0.00	(0.58)	0.00	0.00	2.57	(4.74)	13.86

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