Aldel Financial Correlations

ALDFU Stock

10.21 0.05 0.49%

The current 90-days correlation between Aldel Financial II and Parker Hannifin is -0.09 (i.e., Good diversification). 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Aldel Financial Correlation With Market

Good diversification

The correlation between Aldel Financial II and DJI is -0.07 (i.e., Good 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 census.

Moving together with Aldel Stock

0.61

KVACU

Keen Vision Acquisition

Pair Corr

Moving against Aldel Stock

0.36	FACT	FACT II Acquisition	Pair Corr
0.33	ESHA	ESH Acquisition Corp	Pair Corr
0.62	GLST	Global Star Acquisition,	Pair Corr
0.46	FTIIU	Futuretech II Acquisition	Pair Corr
0.31	AQU	Aquaron Acquisition Corp	Pair Corr

Related Correlations Analysis

	PH	CLPS	CDW	LAC	CC	CPAC	EGO	WETO
PH		0.57	0.87	0.14	0.67	0.4	-0.18	0.36	PH
CLPS	0.57		0.57	-0.21	0.11	0.39	-0.41	-0.01	CLPS
CDW	0.87	0.57		0.24	0.76	0.25	-0.07	0.38	CDW
LAC	0.14	-0.21	0.24		0.62	-0.27	0.49	0.41	LAC
CC	0.67	0.11	0.76	0.62		-0.02	0.3	0.59	CC
CPAC	0.4	0.39	0.25	-0.27	-0.02		-0.19	-0.1	CPAC
EGO	-0.18	-0.41	-0.07	0.49	0.3	-0.19		0.44	EGO
WETO	0.36	-0.01	0.38	0.41	0.59	-0.1	0.44		WETO
	PH	CLPS	CDW	LAC	CC	CPAC	EGO	WETO

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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

CDW	+ 0.87	PH
CC	+ 0.76	CDW
CC	+ 0.67	PH
CC	+ 0.62	LAC
WETO	+ 0.59	CC
CLPS	+ 0.57	PH

High negative correlations

EGO	- 0.41	CLPS
CPAC	- 0.27	LAC
LAC	- 0.21	CLPS
EGO	- 0.19	CPAC
EGO	- 0.18	PH
WETO	- 0.1	CPAC

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
PH	1.27	(0.02)	0.00	(0.08)	0.00	0.00	2.27	(3.50)	10.15
CLPS	2.44	0.26	0.10	0.84	2.54	(3.12)	6.90	(5.13)	16.13
CDW	1.28	(0.03)	0.00	(0.10)	0.00	0.00	2.47	(3.09)	7.33
LAC	2.82	0.03	0.00	(0.04)	0.00	0.00	6.73	(4.91)	18.06
CC	2.27	(0.30)	0.00	(0.27)	0.00	0.00	4.21	(5.02)	18.10
CPAC	1.36	(0.05)	0.00	0.71	0.00	0.00	3.04	(2.90)	10.27
EGO	1.99	0.03	0.02	0.01	3.48	(1.84)	4.42	(5.33)	16.79
WETO	2.67	(0.06)	0.00	(0.25)	0.00	0.00	5.56	(10.00)	10.00

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