Alpha Technology Correlations

ATGL Stock

21.55 1.45 6.30%

The current 90-days correlation between Alpha Technology and Paysign is 0.05 (i.e., Significant 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

Good diversification

The correlation between Alpha Technology Group 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 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 against Alpha Stock

0.66	300598	ArcherMind Technology	Pair Corr
0.57	GNIP	GenIP PLC	Pair Corr
0.51	ETHZ	ETHZilla Symbol Change	Pair Corr
0.48	600476	Hunan Copote Science	Pair Corr
0.43	CD	Chaince Digital Holdings Symbol Change	Pair Corr
0.35	002184	Shanghai HiTech Control	Pair Corr
0.34	WYFI	WhiteFiber Ordinary	Pair Corr
0.33	688201	Beijing Infosec Tech	Pair Corr
0.31	BEO	Beonic	Pair Corr
0.61	300419	Beijing InterAct Tec	Pair Corr
0.5	SOC	Soco	Pair Corr
0.36	GLE	Global Engine Group	Pair Corr

Related Correlations Analysis

	PAYS	KLTR	DGXX	SMRT	EGHT	AZ	PDYN	ALTS	TCX	TRAK
PAYS		0.38	0.26	-0.17	0.36	-0.16	0.35	0.14	-0.6	0.69	PAYS
KLTR	0.38		-0.32	0.37	0.53	-0.31	-0.23	-0.33	0.14	0.11	KLTR
DGXX	0.26	-0.32		-0.73	-0.22	0.08	0.59	0.67	-0.67	0.72	DGXX
SMRT	-0.17	0.37	-0.73		0.56	-0.04	-0.74	-0.8	0.69	-0.67	SMRT
EGHT	0.36	0.53	-0.22	0.56		-0.39	-0.48	-0.57	0.15	0.08	EGHT
AZ	-0.16	-0.31	0.08	-0.04	-0.39		0.42	0.27	0.01	-0.33	AZ
PDYN	0.35	-0.23	0.59	-0.74	-0.48	0.42		0.84	-0.65	0.5	PDYN
ALTS	0.14	-0.33	0.67	-0.8	-0.57	0.27	0.84		-0.45	0.44	ALTS
TCX	-0.6	0.14	-0.67	0.69	0.15	0.01	-0.65	-0.45		-0.83	TCX
TRAK	0.69	0.11	0.72	-0.67	0.08	-0.33	0.5	0.44	-0.83		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

ALTS	+ 0.84	PDYN
TRAK	+ 0.72	DGXX
TRAK	+ 0.69	PAYS
TCX	+ 0.69	SMRT
ALTS	+ 0.67	DGXX
PDYN	+ 0.59	DGXX

High negative correlations

TRAK	- 0.83	TCX
ALTS	- 0.8	SMRT
PDYN	- 0.74	SMRT
SMRT	- 0.73	DGXX
TRAK	- 0.67	SMRT
TCX	- 0.67	DGXX

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	1.96	(0.42)	0.00	(0.18)	0.00	0.00	4.16	(4.16)	12.59
KLTR	3.21	(0.16)	(0.02)	0.01	3.73	(3.81)	8.16	(6.70)	32.77
DGXX	6.93	0.23	0.03	0.31	7.25	(9.12)	17.87	(12.53)	46.52
SMRT	2.31	0.36	0.15	0.82	1.85	(3.24)	5.75	(2.90)	19.63
EGHT	2.43	(0.30)	0.00	(0.07)	0.00	0.00	4.23	(4.84)	34.75
AZ	3.58	(0.06)	0.02	0.07	4.91	(3.41)	7.60	(7.12)	25.03
PDYN	4.21	(0.86)	0.00	(0.12)	0.00	0.00	10.80	(8.27)	24.47
ALTS	6.42	(0.03)	0.04	0.08	6.38	(7.96)	15.07	(10.70)	30.44
TCX	2.26	0.41	0.15	0.60	2.25	(2.55)	5.31	(4.30)	13.11
TRAK	1.61	(0.53)	0.00	(0.35)	0.00	0.00	2.66	(4.38)	9.78

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