Alchemy Investments Correlations

ALCY Stock

11.30 0.08 0.71%

The current 90-days correlation between Alchemy Investments and Highway Holdings Limited is -0.16 (i.e., Good diversification). The correlation of Alchemy Investments is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Alchemy Investments Correlation With Market

Significant diversification

The correlation between Alchemy Investments Acquisitio and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alchemy Investments Acquisitio and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alchemy Stock

0.77	V	Visa Class A	Pair Corr
0.64	MA	Mastercard	Pair Corr
0.74	GDST	Goldenstone Acquisition	Pair Corr
0.68	BBDC	Barings BDC	Pair Corr
0.76	COOP	Mr Cooper Group	Pair Corr
0.63	L	Loews Corp	Pair Corr
0.78	BK	Bank of New York	Pair Corr

Moving against Alchemy Stock

0.74	ORGN	Origin Materials	Pair Corr
0.57	WD	Walker Dunlop	Pair Corr
0.39	SYF	Synchrony Financial	Pair Corr
0.32	ECPG	Encore Capital Group	Pair Corr
0.74	BITF	Bitfarms	Pair Corr
0.71	CODI	Compass Diversified	Pair Corr
0.7	DHIL	Diamond Hill Investment	Pair Corr
0.6	PYPL	PayPal Holdings	Pair Corr
0.39	AX	Axos Financial	Pair Corr
0.68	LC	LendingClub Corp	Pair Corr
0.48	CM	Canadian Imperial Bank	Pair Corr
0.38	BX	Blackstone Group	Pair Corr
0.31	EG	Everest Group	Pair Corr

Related Correlations Analysis

	HIHO	KALU	MMSI	JBGS	AVNT	GFF
HIHO		0.01	-0.43	0.04	-0.39	0.03	HIHO
KALU	0.01		0.37	0.0	0.56	0.56	KALU
MMSI	-0.43	0.37		0.15	0.67	0.72	MMSI
JBGS	0.04	0.0	0.15		0.1	0.14	JBGS
AVNT	-0.39	0.56	0.67	0.1		0.59	AVNT
GFF	0.03	0.56	0.72	0.14	0.59		GFF
	HIHO	KALU	MMSI	JBGS	AVNT	GFF

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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

GFF	+ 0.72	MMSI
AVNT	+ 0.67	MMSI
GFF	+ 0.59	AVNT
AVNT	+ 0.56	KALU
GFF	+ 0.56	KALU
MMSI	+ 0.37	KALU

High negative correlations

MMSI	- 0.43	HIHO
AVNT	- 0.39	HIHO
JBGS	- 0.0	KALU

Risk-Adjusted Indicators

There is a big difference between Alchemy Stock performing well and Alchemy Investments 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 Alchemy Investments' 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
HIHO	1.05	0.01	0.01	(0.24)	1.48	(1.22)	2.21	(2.16)	8.10
KALU	1.50	(0.11)	0.00	(0.21)	0.00	0.00	3.07	(3.37)	9.62
MMSI	1.20	0.10	0.07	0.10	1.29	(1.31)	2.95	(2.37)	7.42
JBGS	1.70	0.08	0.03	0.08	2.11	(1.74)	3.16	(3.16)	8.37
AVNT	1.42	(0.10)	0.00	(0.08)	0.00	0.00	3.44	(2.40)	8.24
GFF	1.52	(0.01)	0.00	0.04	0.00	0.00	2.86	(2.48)	12.51

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