Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AGOZX Fund  USD 18.14  0.08  0.44%   
The current 90-days correlation between Alger Small Cap and Alger Spectra Fund is 0.84 (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 weak diversification

The correlation between Alger Small Cap and DJI is 0.56 (i.e., Very weak 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 nation.

Moving together with Alger Mutual Fund

  0.87AMGAX Alger Midcap GrowthPairCorr
  0.64AMGCX Alger Midcap GrowthPairCorr
  0.66AMGOX Alger Mid CapPairCorr
  0.68AOFYX Alger Small CapPairCorr
  0.73AOFIX Alger Small CapPairCorr
  1.0AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.69CHUSX Alger Global GrowthPairCorr
  0.95CHUCX Alger Global GrowthPairCorr
  0.93AAGOX Alger Large CapPairCorr
  0.67AAICX Alger Ai EnablersPairCorr
  0.62AAIZX Alger Ai EnablersPairCorr
  0.67AAIYX Alger Mid CapPairCorr
  0.72ASCYX Alger FundsPairCorr
  0.72ASCZX Alger Smallcap GrowthPairCorr
  0.96AASOX Alger Small CapPairCorr
  0.71ASIRX Alger Smallcap GrowthPairCorr
  0.71ASIMX Alger Smidcap FocusPairCorr
  0.72ASMZX Alger Smidcap FocusPairCorr
  0.93ASPCX Alger SpectraPairCorr
  0.92ASPZX Alger SpectraPairCorr
  0.66ASPYX Alger SpectraPairCorr
  0.92ASPIX Alger SpectraPairCorr
  0.71ASYMX Alger Weatherbie SpePairCorr
  0.73ABLOX Alger Balanced PortfolioPairCorr
  0.66ACAYX Alger Capital ApprecPairCorr
  0.92ACAZX Alger Capital ApprecPairCorr
  0.92ACARX Alger Capital ApprecPairCorr
  0.92ACAAX Alger Capital ApprecPairCorr
  0.95ATVPX Alger 35 FundPairCorr
  0.66ACIZX Alger Capital ApprecPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.96ADOZX Alger Dynamic OpportPairCorr
  0.61CNEIX Alger Concentrated EquityPairCorr
  0.61CNEYX Alger Concentrated EquityPairCorr
  0.86CNEZX Alger Concentrated EquityPairCorr
  0.68AFGZX Alger Global GrowthPairCorr

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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