Alger Small Correlations

AOFIX Fund  USD 17.63  0.15  0.86%   
The current 90-days correlation between Alger Small Cap and Stone Ridge Diversified is 0.12 (i.e., Average 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

Good diversification

The correlation between Alger Small Cap and DJI is -0.12 (i.e., Good 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 gross domestic product.

Moving together with Alger Mutual Fund

  0.84AMGAX Alger Midcap GrowthPairCorr
  0.84AMGCX Alger Midcap GrowthPairCorr
  0.84AMGOX Alger Mid CapPairCorr
  1.0AOFYX Alger Small CapPairCorr
  0.96AOFAX Alger Small CapPairCorr
  1.0AOFCX Alger Small CapPairCorr
  0.91CHUSX Alger Global GrowthPairCorr
  0.92CHUCX Alger Global GrowthPairCorr
  0.9AAGOX Alger Large CapPairCorr
  0.9AAICX Alger Ai EnablersPairCorr
  0.9AAIZX Alger Ai EnablersPairCorr
  0.9AAIYX Alger Mid CapPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.95ASCZX Alger Smallcap GrowthPairCorr
  0.99AASOX Alger Small CapPairCorr
  0.98ASIRX Alger Smallcap GrowthPairCorr
  0.94ASIMX Alger Smidcap FocusPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  0.89ASPCX Alger SpectraPairCorr
  0.89ASPZX Alger SpectraPairCorr
  0.89ASPYX Alger SpectraPairCorr
  0.89ASPIX Alger SpectraPairCorr
  0.94ASYMX Alger Weatherbie SpePairCorr
  0.71ABLOX Alger Balanced PortfolioPairCorr
  0.91ACAYX Alger Capital ApprecPairCorr
  0.89ACAZX Alger Capital ApprecPairCorr
  0.89ACARX Alger Capital ApprecPairCorr
  0.89ACAAX Alger Capital ApprecPairCorr
  0.91ATVPX Alger 35 FundPairCorr
  0.91ACIZX Alger Capital ApprecPairCorr
  0.92ADOCX Alger Dynamic OpportPairCorr
  0.92ADOZX Alger Dynamic OpportPairCorr
  0.91CNEIX Alger Concentrated EquityPairCorr
  0.91CNEYX Alger Concentrated EquityPairCorr
  0.91CNEZX Alger Concentrated EquityPairCorr
  0.91AFGZX Alger Global GrowthPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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High negative correlations   
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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.