IndexAlpha is an institutional-grade stock research and portfolio risk analysis platform built for individual investors. It runs the same fundamental, valuation, dividend-quality, and risk-adjusted analysis professional research desks use — packaged as a research workstation you can use directly from a web browser, with a research assistant that explains every number in plain English.

What kind of analysis does IndexAlpha run?

Three workflows: (1) Stock research — multi-factor scoring across financial health, growth, valuation, and dividend quality, with the underlying metrics surfaced and explained, not hidden behind a single number. (2) Portfolio risk analysis — Value-at-Risk and Conditional VaR via Monte Carlo and parametric methods, plus stress tests against the 1987 crash, 2000 dot-com collapse, 2008 Global Financial Crisis, 2020 COVID drawdown, and 2022 rate shock, calculated from actual historical price paths of your exact holdings. (3) A research assistant that runs comparative, fundamental, and risk queries with structured tables, charts, and risk-adjusted comparables.

How does IndexAlpha compare to Bloomberg Terminal, FactSet, or Refinitiv?

Bloomberg Terminal, FactSet, and Refinitiv are designed for institutional traders and analysts at fund management firms, with five-figure annual subscriptions per seat. IndexAlpha delivers the analytical depth individual investors actually need — multi-factor stock scoring, portfolio Value-at-Risk, historical-scenario stress testing, and risk-adjusted comparables — at a fraction of the cost, on a research workstation tuned for individual decision-making rather than market-making.

How does IndexAlpha score a stock?

Every stock is scored across four dimensions: financial health (balance-sheet strength, debt coverage, liquidity), growth (revenue, earnings, and free-cash-flow trajectory), valuation (multiples versus sector and historical bands), and dividend quality (payout ratio, growth, coverage). Each dimension is auditable — the underlying metrics, sector comparables, and methodology are visible, not hidden behind an opaque rating.

How is portfolio risk calculated?

IndexAlpha quantifies your portfolio's downside exposure using a combination of Value-at-Risk (Monte Carlo and parametric Cornish-Fisher methods), Conditional VaR (the average loss in the worst 5% of outcomes), and historical-scenario stress testing. Stress tests are not simulations — they replay the actual price paths of your exact holdings through the 1987 Black Monday, 2000 dot-com bust, 2008 GFC, 2020 COVID drawdown, and 2022 rate shock. The output is a specific dollar figure, not a generic percentile.

What can the research assistant do?

The research assistant handles fundamental comparisons (e.g. peer-relative valuation across a sector), portfolio-level questions (sector concentration, factor exposure, dividend yield aggregation), and methodology questions (how a metric is calculated, what a result implies). Responses come as structured cards — tables, charts, comparable lists, and concise written analysis — not freeform paragraphs.

Which stocks and exchanges does IndexAlpha cover?

Coverage spans 6,000+ equities across NYSE, NASDAQ, AMEX, London Stock Exchange (LSE), Australian Securities Exchange (ASX), Hong Kong (HKEX), Singapore Exchange (SGX), and Japan Exchange Group (JPX). Fundamental and risk data refresh daily.

How does pricing work?

IndexAlpha offers a Starter tier for evaluating the platform with a daily research and assistant allowance, and a paid Investor tier for active research workflows that need higher allowances, deeper analytical depth, and priority compute. Pricing and tier limits are listed on the pricing page.

Is IndexAlpha investment advice?

No. IndexAlpha is a research and analysis platform, not a financial adviser. Every output is auditable analytical work product — the underlying methodology and inputs are visible. Investment decisions remain yours. For personalised advice, consult a licensed financial adviser.

How is my data handled?

All data is encrypted in transit and at rest on Google Cloud infrastructure. Portfolio holdings, watchlists, and research history remain private to your account. We never sell user data. Accounts are deletable on demand.

What devices does IndexAlpha run on?

IndexAlpha runs in any modern web browser — desktop, tablet, and mobile. The research workstation is designed for desktop and tablet where dense analytical surfaces are most usable; the research assistant and stock lookup work well on mobile.

Premium / Discount to NAV

The percentage by which an ETF's market price differs from its net asset value (NAV). Positive = premium, negative = discount.

Premium / Discount to NAV — The percentage by which an ETF's market price differs from its net asset value (NAV). Positive = premium, negative = discount.

Key facts

Category: ETF-specific
Definition: The percentage by which an ETF's market price differs from its net asset value (NAV). Positive = premium, negative = discount.
Live example: /research/stock/EWZ
Last updated: 2026-06-17

How IndexAlpha uses Premium / Discount to NAV

ETFs should trade near NAV thanks to the creation/redemption arbitrage mechanism. Persistent large premiums or discounts indicate breakdown in that mechanism — common in emerging-market and small-AUM ETFs.

See it live

The Premium / Discount to NAV metric shows up on every IndexAlpha research page. See it now on EWZ — or research any stock to view its Premium / Discount to NAV.

Related terms

Common questions

What is Premium / Discount to NAV?

The percentage by which an ETF's market price differs from its net asset value (NAV). Positive = premium, negative = discount.

How does IndexAlpha use Premium / Discount to NAV?

Sources

Last updated: 2026-06-17