Aldel Financial Correlations

ALDF Stock

9.95 0.02 0.20%

The correlation of Aldel Financial 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.

Aldel Financial Correlation With Market

Significant diversification

The correlation between Aldel Financial II and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aldel Financial II 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 Aldel Financial II. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Aldel Stock

0.62

DPCS

DP Cap Acquisition

Pair Corr

Moving against Aldel Stock

0.59	MSSAU	Metal Sky Star	Pair Corr
0.56	RENEU	Cartesian Growth	Pair Corr
0.45	MBAV	M3 Brigade Acquisition	Pair Corr
0.45	PWUPU	PowerUp Acquisition Corp	Pair Corr
0.35	VCIC	Vine Hill Capital	Pair Corr
0.32	DIST	Distoken Acquisition	Pair Corr
0.31	DMYY	dMY Squared Technology	Pair Corr
0.62	GLSTU	Global Star Acquisition	Pair Corr
0.53	AEAEU	Altenergy Acquisition	Pair Corr
0.45	DTSQ	DT Cloud Star	Pair Corr
0.35	DYCQ	DT Cloud Acquisition	Pair Corr
0.32	GLLIU	Globalink Investment Unit	Pair Corr
0.32	MSSA	Metal Sky Star	Pair Corr

Related Correlations Analysis

	NOKFF	DAL	ALK	MESA	CPA	MFGCF	SBGI
NOKFF		0.0	0.0	0.0	0.0	0.0	0.0	NOKFF
DAL	0.0		0.47	0.33	-0.21	-0.47	-0.05	DAL
ALK	0.0	0.47		0.88	-0.73	-0.85	-0.17	ALK
MESA	0.0	0.33	0.88		-0.74	-0.76	-0.12	MESA
CPA	0.0	-0.21	-0.73	-0.74		0.67	-0.26	CPA
MFGCF	0.0	-0.47	-0.85	-0.76	0.67		0.11	MFGCF
SBGI	0.0	-0.05	-0.17	-0.12	-0.26	0.11		SBGI
	NOKFF	DAL	ALK	MESA	CPA	MFGCF	SBGI

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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

MESA	+ 0.88	ALK
MFGCF	+ 0.67	CPA
ALK	+ 0.47	DAL
MESA	+ 0.33	DAL
SBGI	+ 0.11	MFGCF
DAL	+ 0.0	NOKFF

High negative correlations

MFGCF	- 0.85	ALK
MFGCF	- 0.76	MESA
CPA	- 0.74	MESA
CPA	- 0.73	ALK
MFGCF	- 0.47	DAL
SBGI	- 0.26	CPA

Risk-Adjusted Indicators

There is a big difference between Aldel Stock performing well and Aldel Financial 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 Aldel Financial'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
NOKFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DAL	1.65	0.27	0.16	0.22	1.51	(2.07)	3.54	(2.91)	11.77
ALK	1.71	0.59	0.41	0.70	0.99	(2.26)	4.05	(2.09)	15.67
MESA	2.95	0.62	0.16	0.55	2.94	(4.04)	9.80	(4.63)	23.87
CPA	1.43	(0.12)	0.00	(1.73)	0.00	0.00	3.30	(2.47)	16.56
MFGCF	1.60	(0.24)	0.00	(47.79)	0.00	0.00	3.29	(4.88)	15.79
SBGI	1.79	(0.21)	0.00	(3.43)	0.00	0.00	4.00	(5.05)	10.70

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