Alpha Technology Correlations

Stocks . USA . 
Stock . Alpha Technology Group
ATGL Stock   20.50  0.43  2.05%   
The current 90-days correlation between Alpha Technology and Paysign is 0.06 (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.
  
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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 price.

Moving against Alpha Stock

  0.52CCR Credit ClearPairCorr
  0.42LDOS Leidos HoldingsPairCorr
  0.37600764 China Marine InformationPairCorr
  0.36ETHZ ETHZilla Symbol ChangePairCorr
  0.33301311 KSEC Intelligent TecPairCorr
  0.64FORTY Formula Systems 1985PairCorr
  0.47301390 Hangzhou Gisway InfoPairCorr
  0.43UBXG U BX TechnologyPairCorr
  0.41301236 iSoftStone InformationPairCorr
  0.41301178 Guangdong TianYiMaPairCorr
  0.35002987 Northking InformationPairCorr
  0.35301299 Sublime China InformationPairCorr
  0.35000555 Digital China InformationPairCorr
  0.34DOX AmdocsPairCorr
  0.32RIME Algorhythm HoldingsPairCorr

Related Correlations Analysis


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
+ 0.91
PDYN
TCX
+ 0.8
SMRT
TRAK
+ 0.8
ALTS
TRAK
+ 0.78
PDYN
EGHT
+ 0.68
SMRT
TRAK
+ 0.62
DGXX
  

High negative correlations

TCX
- 0.91
PDYN
ALTS
- 0.85
SMRT
TCX
- 0.81
ALTS
TRAK
- 0.8
SMRT
PDYN
- 0.78
SMRT
TRAK
- 0.76
TCX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PAYS  2.14 (0.37) 0.00 (0.62) 0.00 
 0.00 
 4.16 
(4.41)
 12.59 
KLTR  3.30  0.15  0.03  0.47  3.74 
(4.03)
 8.22 
(6.70)
 32.77 
DGXX  7.28  0.33  0.04  0.89  7.31 
(9.92)
 17.87 
(12.53)
 46.52 
SMRT  2.50  0.54  0.22  0.59  2.06 
(3.32)
 6.43 
(4.06)
 19.63 
EGHT  2.52 (0.06) 0.00 (0.23) 0.00 
 0.00 
 4.23 
(5.94)
 34.75 
AZ  3.43 (0.07) 0.00 (0.45) 0.00 
 0.00 
 7.24 
(7.12)
 25.03 
PDYN  4.06 (1.01) 0.00  4.28  0.00 
 0.00 
 8.37 
(8.52)
 25.43 
ALTS  5.38 (1.24) 0.00 (1.76) 0.00 
 0.00 
 10.00 
(10.70)
 30.44 
TCX  2.19  0.32  0.10 (5.27) 2.30 
(2.55)
 5.20 
(4.30)
 13.11 
TRAK  1.73 (0.30) 0.00  1.21  0.00 
 0.00 
 3.08 
(4.53)
 9.78 

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