# Noisy Alpha — Quantify skill vs random luck

> Quantify skill vs random luck (iPhone/iPad app by Joao Frasco.)

- Source: https://appshunter.io/ios/app/noisy-alpha/id1331097704 (this page in markdown: same URL + `.md`)
- Developer: [Joao Frasco](https://appshunter.io/developer/1105081507)
- Category: Education, Finance
- Price: $0.99
- Age rating: 4+
- Requires: iOS 26.0 · 6 MB
- Languages: American English
- Released: 2018-01-15
- Data updated: 2026-10-24

## What is Noisy Alpha?

Noisy Alpha helps portfolio managers, risk analysts and CFA candidates separate investment skill from market noise, under clear statistical assumptions, entirely on your device.

SKILL VS LUCK, EXPLAINED
• Information Ratio: fixed skill, implied alpha at a chosen tracking risk, and the probability of beating the benchmark at horizons from one month to twenty years
• Tracking Risk: the zero-skill path, showing how often luck alone can clear an alpha target
• Multiple Managers: a binomial model of how many independent managers may outperform

BUILT FOR PROFESSIONAL INTUITION
• Swift Charts density and probability views with hurdle and expected-alpha markers
• Full-screen charts with ghost comparisons
• Teaching presets for meetings and classrooms
• Advanced educational metrics, such as IR × √T and years to reach a target probability
• Optional on-device Explain, using Apple Foundation Models where available, with built-in educational tips on every other device
• Share text, chart images or PDF summaries, each with disclaimers

NOISY ALPHA PRO (ONE-TIME PURCHASE, NO SUBSCRIPTION)
Core Information Ratio, Tracking Risk and independent multi-manager analysis stay free. Pro unlocks unlimited saved scenarios and compare, Goal Seek, correlated multi-manager stress, curriculum labs, rich PDF export and unlimited Explain.

PRIVATE BY DESIGN
• No account required
• Your inputs and saved scenarios stay on your device
• No third-party AI services

IMPORTANT
Noisy Alpha is an educational statistics tool. It does not provide investment advice, recommendations or forecasts. Probabilities depend on model assumptions (for example normally distributed active returns and independent managers where stated) and may not match real markets.

## Is Noisy Alpha safe?

Not enough ratings yet to assess Noisy Alpha.

## Is Noisy Alpha legit?

Noisy Alpha appears to be a legitimate app. The AppsHunter Legitimacy Score for Noisy Alpha is 90 out of 100 points across 7 verification signals from App Store and developer data.


## Version history (last 5 releases)

### 2026.10.16 — 2026-10-18

• Noisy is now Noisy Alpha
• Redesigned with Swift Charts and a calmer, clearer interface
• Save and compare scenarios on your device
• Goal Seek, teaching presets and full-screen charts
• Share text, chart images or PDF summaries
• Optional on-device Explain with Apple Foundation Models, plus offline tips
• Home Screen widget and Shortcuts support

### 2026.02.02 — 2026-02-08

• THE PREMIUM REFRESH: Full SwiftUI modernization with a sleek, card-based glassmorphic design.
• ENHANCED STATISTICAL MODELS: New descriptive notes explaining skill-scaling vs. no-skill assumptions.
• SUPERIOR READABILITY: Fully optimized chart axes with integer-based percentage labels and dynamic spacing.
• CLEANER UI: Removed legacy elements for a lightning-fast, modern experience.

### 2024.12.23 — 2024-12-23

Updated to iOS 18!

### 2023.10.11 — 2023-10-11

Updated to iOS 17.0!

### 2023.05.28 — 2023-05-29

Updated to iOS 16.4.

## More apps by Joao Frasco

- [Cricket Darts Chalkboard](https://appshunter.io/ios/app/cricket-darts-chalkboard/id1105081508)
- [FinCalc](https://appshunter.io/ios/app/fincalc/id1116399493)
- [WhenLast?](https://appshunter.io/ios/app/whenlast/id1142224693)
- [Speedometers](https://appshunter.io/ios/app/speedometers/id1146874201)
- [Learn Graphs](https://appshunter.io/ios/app/learn-graphs/id1155922532)
- [PongPin](https://appshunter.io/ios/app/pongpin/id1219753081)

All apps by Joao Frasco: https://appshunter.io/developer/1105081507

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*Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-10-24.*