Alpha Pro Correlations
| APL Stock | EUR 4.36 0.02 0.46% |
The current 90-days correlation between Alpha Pro Tech and TOTAL BANGUN PERSAD is 0.08 (i.e., Significant diversification). The correlation of Alpha Pro 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.
Alpha Pro Correlation With Market
Poor diversification
The correlation between Alpha Pro Tech and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Pro Tech and DJI in the same portfolio, assuming nothing else is changed.
Alpha |
The ability to find closely correlated positions to Alpha Pro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alpha Pro when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Alpha Pro - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Alpha Pro Tech to buy it.
Moving together with Alpha Stock
| 0.69 | BYRA | PT Bank Rakyat Earnings Call This Week | PairCorr |
| 0.88 | L3X | Centrais Elétricas Earnings Call This Week | PairCorr |
| 0.88 | ELG | Elmos Semiconductor Earnings Call This Week | PairCorr |
| 0.76 | G40 | GDS Holdings Limited | PairCorr |
| 0.87 | SVKB | SANDVIK | PairCorr |
| 0.68 | SII | Wheaton Precious Metals | PairCorr |
| 0.87 | TQI | TELECOM ITALIA | PairCorr |
| 0.78 | 43C | CACTUS INC CLA Earnings Call This Week | PairCorr |
| 0.7 | TWA | TOWA | PairCorr |
| 0.76 | HIUC | China Taiping Insurance | PairCorr |
| 0.65 | LOR | LOral SA | PairCorr |
Moving against Alpha Stock
| 0.7 | BYRA | BANK RAKYAT IND Earnings Call This Week | PairCorr |
| 0.64 | BZG2 | PT Bank Central | PairCorr |
| 0.39 | EFF | DTEFFWECHSEL BET Split | PairCorr |
| 0.5 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.43 | 7YC | Synthomer plc | PairCorr |
| 0.37 | 3HB | Hybrigenics Societe | PairCorr |
| 0.35 | 777 | EUROSPORTS GLOBAL LTD | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Alpha Stock performing well and Alpha Pro 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 Pro'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HX1A | 0.47 | 0.02 | 0.00 | (0.02) | 0.00 | 0.00 | 15.29 | |||
| 3IB | 1.49 | 0.06 | (0.01) | (0.01) | 2.52 | 7.27 | 18.02 | |||
| OAIA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| T9Q | 2.83 | 0.23 | 0.03 | (0.87) | 3.81 | 8.99 | 22.00 | |||
| IUA | 3.62 | 0.75 | 0.13 | 1.22 | 3.60 | 19.42 | 42.26 | |||
| T9Q | 0.53 | 0.23 | 0.00 | 0.55 | 0.00 | 0.00 | 8.89 | |||
| 2P0N | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BNB | 0.83 | (0.21) | 0.00 | 2.88 | 0.00 | 1.19 | 20.54 | |||
| BNB | 0.56 | (0.36) | 0.00 | 1.97 | 0.00 | 0.00 | 2.50 | |||
| 3IB | 0.27 | (0.05) | 0.00 | (0.43) | 0.00 | 0.87 | 5.06 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Alpha Pro without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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| All Next | Launch Module |
Alpha Pro Corporate Management
Elected by the shareholders, the Alpha Pro's board of directors comprises two types of representatives: Alpha Pro inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Alpha. The board's role is to monitor Alpha Pro's management team and ensure that shareholders' interests are well served. Alpha Pro's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Alpha Pro's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Bruce Hayden | VP Marketing | Profile | |
| Chris Louisos | VP Marketing | Profile | |
| Colleen McDonald | Chief Officer | Profile | |
| Donna Millar | Investor Director | Profile |