Alger Smallcap Correlations

Mutual Funds . USA . 
Fund . Alger Smallcap Growth
ASIRX Fund  USD 10.27  0.27  2.70%   
The current 90-days correlation between Alger Smallcap Growth and Versatile Bond Portfolio is 0.24 (i.e., Modest 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 0.63 (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 metropolitan statistical area.

Moving together with Alger Mutual Fund

  0.86AMGAX Alger Midcap GrowthPairCorr
  0.87AMGCX Alger Midcap GrowthPairCorr
  0.87AMGOX Alger Mid CapPairCorr
  0.99AOFYX Alger Small CapPairCorr
  0.99AOFIX Alger Small CapPairCorr
  0.99AOFAX Alger Small CapPairCorr
  0.99AOFCX Alger Small CapPairCorr
  0.93CHUSX Alger Global GrowthPairCorr
  0.93CHUCX Alger Global GrowthPairCorr
  0.91AAGOX Alger Large CapPairCorr
  0.88AAICX Alger Ai EnablersPairCorr
  0.88AAIZX Alger Ai EnablersPairCorr
  0.88AAIYX Alger Mid CapPairCorr
  1.0ASCYX Alger FundsPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  1.0AASOX Alger Small CapPairCorr
  0.99ASIMX Alger Smidcap FocusPairCorr
  0.99ASMZX Alger Smidcap FocusPairCorr
  0.9ASPCX Alger SpectraPairCorr
  0.9ASPZX Alger SpectraPairCorr
  0.9ASPYX Alger SpectraPairCorr
  0.9ASPIX Alger SpectraPairCorr
  0.99ASYMX Alger Weatherbie SpePairCorr
  0.73ABLOX Alger Balanced PortfolioPairCorr
  0.9ACAYX Alger Capital ApprecPairCorr
  0.9ACAZX Alger Capital ApprecPairCorr
  0.9ACARX Alger Capital ApprecPairCorr
  0.9ACAAX Alger Capital ApprecPairCorr
  0.93ATVPX Alger 35 FundPairCorr
  0.9ACIZX Alger Capital ApprecPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  0.89CNEIX Alger Concentrated EquityPairCorr
  0.89CNEYX Alger Concentrated EquityPairCorr
  0.89CNEZX Alger Concentrated EquityPairCorr
  0.93AFGZX Alger Global GrowthPairCorr

Moving against Alger Mutual Fund

  0.31AFGPX Alger InternationalPairCorr

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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