Alger Smallcap Correlations

Mutual Funds . USA . 
Fund . Alger Smallcap Growth
ASCZX Fund  USD 9.76  0.29  3.06%   
The current 90-days correlation between Alger Smallcap Growth and Intermediate Term Bond Fund is 0.03 (i.e., Significant diversification). The correlation of Alger Smallcap 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 Smallcap Correlation With Market

Poor diversification

The correlation between Alger Smallcap Growth and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smallcap Growth 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 Smallcap Growth. 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

  0.88AMGAX Alger Midcap GrowthPairCorr
  0.89AMGCX Alger Midcap GrowthPairCorr
  0.89AMGOX Alger Mid CapPairCorr
  0.99AOFYX Alger Small CapPairCorr
  0.99AOFIX Alger Small CapPairCorr
  0.99AOFAX Alger Small CapPairCorr
  0.99AOFCX Alger Small CapPairCorr
  0.94CHUSX Alger Global GrowthPairCorr
  0.94CHUCX Alger Global GrowthPairCorr
  0.92AAGOX Alger Large CapPairCorr
  0.9AAICX Alger Ai EnablersPairCorr
  0.9AAIZX Alger Ai EnablersPairCorr
  0.9AAIYX Alger Mid CapPairCorr
  1.0ASCYX Alger FundsPairCorr
  1.0AASOX Alger Small CapPairCorr
  1.0ASIRX Alger Smallcap GrowthPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.98ASMZX Alger Smidcap FocusPairCorr
  0.92ASPCX Alger SpectraPairCorr
  0.91ASPZX Alger SpectraPairCorr
  0.91ASPYX Alger SpectraPairCorr
  0.91ASPIX Alger SpectraPairCorr
  0.98ASYMX Alger Weatherbie SpePairCorr
  0.76ABLOX Alger Balanced PortfolioPairCorr
  0.91ACAYX Alger Capital ApprecPairCorr
  0.91ACAZX Alger Capital ApprecPairCorr
  0.91ACARX Alger Capital ApprecPairCorr
  0.91ACAAX Alger Capital ApprecPairCorr
  0.94ATVPX Alger 35 FundPairCorr
  0.91ACIZX Alger Capital ApprecPairCorr
  0.98ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  0.9CNEIX Alger Concentrated EquityPairCorr
  0.9CNEYX Alger Concentrated EquityPairCorr
  0.9CNEZX Alger Concentrated EquityPairCorr
  0.94AFGZX 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 Smallcap 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 Smallcap'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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