Alger Small Correlations
| AOFIX Fund | USD 18.85 0.31 1.67% |
The current 90-days correlation between Alger Small Cap and Touchstone Small Cap is 0.67 (i.e., 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
Weak diversification
The correlation between Alger Small Cap and DJI is 0.37 (i.e., 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.
Alger |
Moving together with Alger Mutual Fund
| 0.74 | ASCYX | Alger Funds | PairCorr |
| 0.76 | ASCZX | Alger Smallcap Growth | PairCorr |
| 0.95 | ASIRX | Alger Smallcap Growth | PairCorr |
| 0.74 | ACAZX | Alger Capital Apprec | PairCorr |
| 0.72 | ADOCX | Alger Dynamic Opport | PairCorr |
| 0.65 | ADOZX | Alger Dynamic Opport | PairCorr |
| 0.69 | AFGZX | Alger Global Growth | PairCorr |
| 0.74 | AFOZX | Alger Funds Mid | PairCorr |
| 0.63 | AGFCX | Alger Responsible | PairCorr |
| 0.8 | AGIFX | Alger Responsible | PairCorr |
Related Correlations Analysis
| 0.94 | 0.51 | 0.94 | 0.84 | TVOYX | ||
| 0.94 | 0.59 | 0.87 | 0.84 | ARTSX | ||
| 0.51 | 0.59 | 0.4 | 0.62 | NESGX | ||
| 0.94 | 0.87 | 0.4 | 0.85 | OWSMX | ||
| 0.84 | 0.84 | 0.62 | 0.85 | GSTOX | ||
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TVOYX | 0.70 | (0.07) | 0.00 | (0.11) | 0.00 | 1.43 | 5.24 | |||
| ARTSX | 1.04 | (0.13) | 0.00 | (0.17) | 0.00 | 2.14 | 7.68 | |||
| NESGX | 1.27 | (0.08) | 0.00 | (0.14) | 0.00 | 2.06 | 8.46 | |||
| OWSMX | 0.56 | (0.08) | 0.00 | (0.20) | 0.00 | 1.03 | 4.08 | |||
| GSTOX | 0.98 | (0.11) | 0.00 | 0.98 | 0.00 | 1.99 | 6.42 |