Alight Correlations

ALIT Stock

USD 7.99 0.03 0.37%

The current 90-days correlation between Alight Inc and Paycor HCM is 0.09 (i.e., Significant diversification). The correlation of Alight 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.

Alight Correlation With Market

Significant diversification

The correlation between Alight Inc and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alight Inc 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 Alight Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Alight Stock

0.74	DJCO	Daily Journal Corp	Pair Corr
0.8	DV	DoubleVerify Holdings	Pair Corr
0.66	EB	Eventbrite Class A	Pair Corr
0.78	ML	MoneyLion	Pair Corr
0.75	PD	Pagerduty	Pair Corr
0.72	WK	Workiva	Pair Corr
0.66	ZM	Zoom Video Communications	Pair Corr
0.64	DOMO	Domo Inc	Pair Corr
0.63	DTRK	DATATRAK International	Pair Corr
0.76	VMEO	Vimeo Inc	Pair Corr
0.74	VTSI	VirTra Inc	Pair Corr
0.66	EGHT	8x8 Common Stock	Pair Corr
0.77	WDAY	Workday Downward Rally	Pair Corr

Moving against Alight Stock

0.56	XELAP	Exela Technologies	Pair Corr
0.37	VTEX	VTEX	Pair Corr
0.33	ELCO	Elcom International	Pair Corr

Related Correlations Analysis

	AMSWA	PYCR	APPF	AGYS	MIXT	ENV	CVT	CWAN	DSGX	MNTV
AMSWA		0.54	-0.13	0.38	-0.86	0.23	0.0	0.66	0.71	0.58	AMSWA
PYCR	0.54		0.41	0.69	-0.61	0.78	0.0	0.9	0.87	0.18	PYCR
APPF	-0.13	0.41		0.33	0.17	0.31	0.0	0.3	0.24	-0.11	APPF
AGYS	0.38	0.69	0.33		-0.38	0.64	0.0	0.82	0.82	0.12	AGYS
MIXT	-0.86	-0.61	0.17	-0.38		-0.28	0.0	-0.69	-0.77	-0.49	MIXT
ENV	0.23	0.78	0.31	0.64	-0.28		0.0	0.66	0.58	-0.08	ENV
CVT	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CVT
CWAN	0.66	0.9	0.3	0.82	-0.69	0.66	0.0		0.96	0.32	CWAN
DSGX	0.71	0.87	0.24	0.82	-0.77	0.58	0.0	0.96		0.31	DSGX
MNTV	0.58	0.18	-0.11	0.12	-0.49	-0.08	0.0	0.32	0.31		MNTV
	AMSWA	PYCR	APPF	AGYS	MIXT	ENV	CVT	CWAN	DSGX	MNTV

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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

DSGX	+ 0.96	CWAN
CWAN	+ 0.9	PYCR
DSGX	+ 0.87	PYCR
CWAN	+ 0.82	AGYS
DSGX	+ 0.82	AGYS
ENV	+ 0.78	PYCR

High negative correlations

MIXT	- 0.86	AMSWA
DSGX	- 0.77	MIXT
CWAN	- 0.69	MIXT
MIXT	- 0.61	PYCR
MNTV	- 0.49	MIXT
MIXT	- 0.38	AGYS

Risk-Adjusted Indicators

There is a big difference between Alight Stock performing well and Alight 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 Alight'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
AMSWA	1.44	0.34	0.12	(0.68)	1.18	(1.67)	3.79	(2.53)	10.40
PYCR	1.51	0.19	0.12	0.26	1.45	(1.63)	3.12	(2.96)	9.64
APPF	1.45	0.00	0.02	0.12	2.17	(1.56)	2.86	(2.27)	15.04
AGYS	1.93	0.03	0.06	0.13	2.93	(1.83)	4.17	(5.24)	14.47
MIXT	2.00	(0.18)	0.00	(2.62)	0.00	0.00	3.52	(3.34)	12.12
ENV	0.09	0.00	(0.81)	0.13	0.09	(0.10)	0.22	(0.22)	0.68
CVT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWAN	1.46	0.24	0.15	0.30	1.42	(1.56)	2.80	(2.78)	18.70
DSGX	1.17	0.07	0.06	0.18	1.25	(1.28)	2.61	(2.39)	7.84
MNTV	0.90	0.60	2.02	(0.52)	0.00	(1.77)	0.43	(0.21)	20.63

Alight Corporate Management

Cesar Jelvez	Chief Officer	Profile
Jeremy Cohen	Vice Relations	Profile
Gregory Faje	VP Relations	Profile
Jeremy Heaton	Operating Officer	Profile
Stephan Scholl	CEO Director	Profile
Katie Rooney	Global Officer	Profile
Paulette Dodson	Co Sec	Profile

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