Alger Mid Correlations

AAIYX Fund

USD 11.93 0.27 2.32%

The current 90-days correlation between Alger Mid Cap and Nationwide Highmark Short is -0.02 (i.e., Good diversification). The correlation of Alger Mid 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.

Alger Mid Correlation With Market

Very weak diversification

The correlation between Alger Mid Cap and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Mid Cap 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 Alger Mid Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with ALGER Mutual Fund

0.65	VEEA	Veea Inc Symbol Change	Pair Corr
0.73	VISL	Vislink Technologies	Pair Corr
0.61	ZSPC	zSpace, Common stock	Pair Corr
0.73	INGM	Ingram Micro Holding	Pair Corr
0.88	HPE-PC	Hewlett Packard Ente	Pair Corr
0.64	NOVA	Sunnova Energy Inter	Pair Corr
0.65	NXXT	NextNRG Symbol Change	Pair Corr
0.73	CORZZ	Core Scientific, Tranche	Pair Corr
0.76	SLNHP	Soluna Holdings Preferred	Pair Corr
0.83	PENG	Penguin Solutions, Symbol Change	Pair Corr

Moving against ALGER Mutual Fund

0.67	INFN	Infinera	Pair Corr
0.48	EMKR	EMCORE	Pair Corr
0.55	MTTR	Matterport	Pair Corr
0.48	NTCL	NETCLASS TECHNOLOGY INC	Pair Corr
0.33	HPAIW	Helport AI Limited	Pair Corr

Related Correlations Analysis

	NWJVX	LOGBX	TRWIX	ARTNX	MRCZX	JSEAX	RRIGX	SPRDX
NWJVX		0.55	0.9	0.68	0.8	0.91	0.91	0.7	NWJVX
LOGBX	0.55		0.69	0.83	0.87	0.72	0.58	0.77	LOGBX
TRWIX	0.9	0.69		0.76	0.88	0.99	0.97	0.83	TRWIX
ARTNX	0.68	0.83	0.76		0.84	0.8	0.68	0.7	ARTNX
MRCZX	0.8	0.87	0.88	0.84		0.89	0.8	0.85	MRCZX
JSEAX	0.91	0.72	0.99	0.8	0.89		0.95	0.83	JSEAX
RRIGX	0.91	0.58	0.97	0.68	0.8	0.95		0.84	RRIGX
SPRDX	0.7	0.77	0.83	0.7	0.85	0.83	0.84		SPRDX
	NWJVX	LOGBX	TRWIX	ARTNX	MRCZX	JSEAX	RRIGX	SPRDX

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Risk-Adjusted Indicators

There is a big difference between ALGER Mutual Fund performing well and Alger Mid Mutual Fund 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 Alger Mid'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
NWJVX	0.08	0.01	0.69	0.67	0.00	(0.14)	0.20	(0.10)	0.61
LOGBX	0.51	0.00	0.00	(0.07)	0.00	0.00	0.83	(1.17)	4.19
TRWIX	0.72	0.18	0.17	0.20	0.91	(0.69)	1.99	(1.76)	5.45
ARTNX	0.64	0.02	0.11	(0.24)	0.84	(0.67)	1.23	(1.48)	3.96
MRCZX	0.24	0.01	0.17	(0.04)	0.32	(0.26)	0.44	(0.44)	1.45
JSEAX	0.65	0.15	0.19	0.19	0.77	(0.68)	1.49	(1.22)	4.60
RRIGX	0.65	0.18	0.29	(1.44)	0.65	(0.73)	1.36	(1.24)	5.59
SPRDX	0.70	(0.02)	0.06	0.04	1.16	(0.66)	1.35	(1.59)	4.63

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