Alpha Technology Correlations

Stocks . USA . 
Stock . Alpha Technology Group
ATGL Stock   22.68  0.18  0.80%   
The current 90-days correlation between Alpha Technology and Viemed Healthcare is 0.21 (i.e., Modest 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 0.2 (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.
  
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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.

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Related Correlations Analysis

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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   
EYE
+ 0.92
APTV
EYE
+ 0.92
MGA
EYE
+ 0.91
CAH
APTV
+ 0.88
CAH
MGA
+ 0.86
APTV
MOD
+ 0.85
APTV
  
High negative correlations   
MGA
- 0.21
MMSI
EYE
- 0.17
MMSI
VMD
- 0.11
EYE
MMSI
- 0.08
CAH
VMD
- 0.06
APTV

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.

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