One example that comes to my mind could be an algo closely related to the price of another security or index of what have you. At times, this algo could be high

One example that comes to my mind could be an algo closely related to the price of another security or index of what have you. At times, this algo could be highly correlative and at other times less so. I agree with you about random noise. Ultimately I'm just looking for something to make me feel like I'm taking an "informed position." You never really know what's going to happen.