AlphaTime Acquisition Correlations

ATMC Stock

11.62 0.04 0.35%

The current 90-days correlation between AlphaTime Acquisition and Jeld Wen Holding is -0.16 (i.e., Good diversification). The correlation of AlphaTime Acquisition 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.

AlphaTime Acquisition Correlation With Market

Average diversification

The correlation between AlphaTime Acquisition Corp and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AlphaTime Acquisition Corp 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 AlphaTime Acquisition Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with AlphaTime Stock

0.93	V	Visa Class A	Pair Corr
0.92	MA	Mastercard	Pair Corr
0.87	FDUS	Fidus Investment Corp	Pair Corr
0.76	COF	Capital One Financial	Pair Corr
0.76	DFS	Discover Financial	Pair Corr
0.77	GBDC	Golub Capital BDC	Pair Corr
0.73	NMFC	New Mountain Finance	Pair Corr
0.69	NTRS	Northern Trust	Pair Corr
0.86	TSLX	Sixth Street Specialty	Pair Corr
0.73	C	Citigroup	Pair Corr
0.62	AC	Associated Capital	Pair Corr
0.81	BK	Bank of New York	Pair Corr

Moving against AlphaTime Stock

0.73	PYPL	PayPal Holdings	Pair Corr
0.64	AMG	Affiliated Managers	Pair Corr
0.61	DHIL	Diamond Hill Investment	Pair Corr
0.55	AMTD	AMTD IDEA Group	Pair Corr
0.52	FHI	Federated Investors	Pair Corr
0.4	SYF	Synchrony Financial	Pair Corr
0.85	LC	LendingClub Corp	Pair Corr
0.74	EG	Everest Group	Pair Corr
0.6	CM	Canadian Imperial Bank	Pair Corr
0.57	BX	Blackstone Group	Pair Corr
0.53	AX	Axos Financial	Pair Corr
0.44	KB	KB Financial Group	Pair Corr
0.43	IX	Orix Corp Ads	Pair Corr
0.36	RF	Regions Financial	Pair Corr

Related Correlations Analysis

	JELD	AIKO	BKH	CPAC	SHIHF	ZEUS	ACLS	EGO
JELD		0.0	0.42	0.23	0.0	0.65	0.76	0.72	JELD
AIKO	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	AIKO
BKH	0.42	0.0		0.45	0.0	0.84	0.17	0.26	BKH
CPAC	0.23	0.0	0.45		0.0	0.54	-0.12	0.12	CPAC
SHIHF	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	SHIHF
ZEUS	0.65	0.0	0.84	0.54	0.0		0.49	0.56	ZEUS
ACLS	0.76	0.0	0.17	-0.12	0.0	0.49		0.81	ACLS
EGO	0.72	0.0	0.26	0.12	0.0	0.56	0.81		EGO
	JELD	AIKO	BKH	CPAC	SHIHF	ZEUS	ACLS	EGO

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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

ZEUS	+ 0.84	BKH
EGO	+ 0.81	ACLS
ACLS	+ 0.76	JELD
EGO	+ 0.72	JELD
ZEUS	+ 0.65	JELD
EGO	+ 0.56	ZEUS

High negative correlations

SHIHF	- 1.0	AIKO
ACLS	- 0.12	CPAC
EGO	- 0.0	SHIHF
ACLS	- 0.0	SHIHF
ZEUS	- 0.0	SHIHF
SHIHF	- 0.0	CPAC

Risk-Adjusted Indicators

There is a big difference between AlphaTime Stock performing well and AlphaTime Acquisition 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 AlphaTime Acquisition'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
JELD	2.79	(0.86)	(0.94)	4.69	(6.28)	33.01
AIKO	0.00	0.00	0.00	0.00	0.00	0.00
BKH	0.84	(0.02)	(0.07)	1.58	(1.96)	7.57
CPAC	1.51	(0.02)	0.07	3.04	(2.90)	10.27
SHIHF	0.00	0.00	0.00	0.00	0.00	0.00
ZEUS	2.03	(0.26)	(0.36)	4.04	(4.63)	13.58
ACLS	2.00	(0.39)	(0.44)	3.92	(5.01)	18.06
EGO	2.14	(0.24)	(0.46)	4.42	(5.33)	16.79

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