Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AASOX Fund  USD 19.37  0.09  0.47%   
The current 90-days correlation between Alger Small Cap and Alger Midcap Growth is 0.89 (i.e., Very poor diversification). The correlation of Alger Small 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 Small Correlation With Market

Very poor diversification

The correlation between Alger Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Small 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 Small 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 persons.

Moving together with Alger Mutual Fund

  0.92AMGAX Alger Midcap GrowthPairCorr
  0.92AMGCX Alger Midcap GrowthPairCorr
  0.92AMGOX Alger Mid CapPairCorr
  0.93AOFYX Alger Small CapPairCorr
  0.93AOFIX Alger Small CapPairCorr
  0.93AOFAX Alger Small CapPairCorr
  0.93AOFCX Alger Small CapPairCorr
  0.95CHUSX Alger Global GrowthPairCorr
  0.95CHUCX Alger Global GrowthPairCorr
  0.89AAGOX Alger Large CapPairCorr
  0.88AAICX Alger Ai EnablersPairCorr
  0.88AAIZX Alger Ai EnablersPairCorr
  0.99ASCYX Alger FundsPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  1.0ASIRX Alger Smallcap GrowthPairCorr
  0.9ASIMX Alger Smidcap FocusPairCorr
  0.9ASMZX Alger Smidcap FocusPairCorr
  0.88ASPCX Alger SpectraPairCorr
  0.89ASPZX Alger SpectraPairCorr
  0.89ASPYX Alger SpectraPairCorr
  0.89ASPIX Alger SpectraPairCorr
  0.91ASYMX Alger Weatherbie SpePairCorr
  0.93ABLOX Alger Balanced PortfolioPairCorr
  0.89ACAYX Alger Capital ApprecPairCorr
  0.89ACAZX Alger Capital ApprecPairCorr
  0.89ACARX Alger Capital ApprecPairCorr
  0.89ACAAX Alger Capital ApprecPairCorr
  0.89ATVPX Alger 35 FundPairCorr
  0.89ACIZX Alger Capital ApprecPairCorr
  0.91ADOCX Alger Dynamic OpportPairCorr
  0.91ADOZX Alger Dynamic OpportPairCorr
  0.88CNEIX Alger Concentrated EquityPairCorr
  0.88CNEYX Alger Concentrated EquityPairCorr
  0.88CNEZX Alger Concentrated EquityPairCorr
  0.95AFGIX Alger Global GrowthPairCorr
  0.9AFOIX Alger Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Small 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 Small'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.

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