Alpha Technology Correlations

ATGL Stock

19.49 0.51 2.55%

The current 90-days correlation between Alpha Technology and Paysign is 0.03 (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

Modest diversification

The correlation between Alpha Technology Group and DJI is 0.26 (i.e., Modest 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 price.

Moving against Alpha Stock

0.53	CN6	BII Railway Transpor	Pair Corr
0.5	CD	Chaince Digital Holdings Symbol Change	Pair Corr
0.46	ETHZ	ETHZilla Symbol Change	Pair Corr
0.43	CCR	Credit Clear	Pair Corr
0.42	MASK	3 E Network	Pair Corr
0.52	ABTC	American Bitcoin Corp Symbol Change	Pair Corr
0.5	NVDA	NVIDIA	Pair Corr
0.45	UBXG	U BX Technology	Pair Corr
0.37	RIME	Algorhythm Holdings	Pair Corr

Related Correlations Analysis

	PAYS	KLTR	DGXX	SMRT	EGHT	AZ	PDYN	ALTS	TCX	TRAK
PAYS		0.51	0.36	0.23	0.09	-0.38	-0.57	-0.43	-0.26	0.79	PAYS
KLTR	0.51		-0.17	0.4	0.02	-0.27	-0.38	-0.36	0.1	0.32	KLTR
DGXX	0.36	-0.17		-0.59	-0.09	-0.19	0.36	0.37	-0.59	0.7	DGXX
SMRT	0.23	0.4	-0.59		0.25	0.15	-0.64	-0.66	0.42	-0.29	SMRT
EGHT	0.09	0.02	-0.09	0.25		-0.39	-0.31	-0.53	-0.36	0.18	EGHT
AZ	-0.38	-0.27	-0.19	0.15	-0.39		0.36	0.25	0.51	-0.63	AZ
PDYN	-0.57	-0.38	0.36	-0.64	-0.31	0.36		0.83	0.03	-0.22	PDYN
ALTS	-0.43	-0.36	0.37	-0.66	-0.53	0.25	0.83		0.2	-0.15	ALTS
TCX	-0.26	0.1	-0.59	0.42	-0.36	0.51	0.03	0.2		-0.66	TCX
TRAK	0.79	0.32	0.7	-0.29	0.18	-0.63	-0.22	-0.15	-0.66		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	+ 0.83	PDYN
TRAK	+ 0.79	PAYS
TRAK	+ 0.7	DGXX
KLTR	+ 0.51	PAYS
TCX	+ 0.51	AZ
TCX	+ 0.42	SMRT

High negative correlations

TRAK	- 0.66	TCX
ALTS	- 0.66	SMRT
PDYN	- 0.64	SMRT
TRAK	- 0.63	AZ
TCX	- 0.59	DGXX
SMRT	- 0.59	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	2.02	(0.60)	0.00	(0.29)	0.00	0.00	4.24	(4.16)	14.90
KLTR	3.47	(0.16)	0.00	(0.02)	0.00	0.00	8.16	(6.59)	32.77
DGXX	5.72	(1.24)	0.00	(2.20)	0.00	0.00	11.18	(13.28)	46.52
SMRT	2.36	0.37	0.14	0.58	2.08	(3.22)	5.75	(3.89)	21.69
EGHT	3.54	0.60	0.18	0.45	2.85	(4.57)	5.70	(4.84)	35.10
AZ	3.70	(0.23)	0.00	(0.01)	0.00	0.00	7.60	(7.74)	25.03
PDYN	5.32	(0.18)	0.00	0.03	5.47	(6.87)	13.96	(8.52)	34.34
ALTS	5.94	(0.31)	0.00	(0.04)	0.00	0.00	12.42	(10.47)	49.03
TCX	2.56	0.16	0.06	0.23	2.80	(2.89)	5.31	(4.36)	16.41
TRAK	1.74	(0.64)	0.00	(0.45)	0.00	0.00	2.57	(4.53)	9.90

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