Alger 35 Correlations

ATFV Etf

USD 27.88 0.40 1.46%

The current 90-days correlation between Alger 35 ETF and Sterling Capital Focus is 0.63 (i.e., Poor diversification). The correlation of Alger 35 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 35 Correlation With Market

Modest diversification

The correlation between Alger 35 ETF and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger 35 ETF 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 35 ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Alger Etf

0.82	VUG	Vanguard Growth Index	Pair Corr
0.83	IWF	iShares Russell 1000	Pair Corr
0.9	IVW	iShares SP 500	Pair Corr
0.91	SPYG	SPDR Portfolio SP	Pair Corr
0.9	IUSG	iShares Core SP	Pair Corr
0.83	VONG	Vanguard Russell 1000	Pair Corr
0.81	MGK	Vanguard Mega Cap	Pair Corr
0.84	VRGWX	Vanguard Russell 1000	Pair Corr
0.83	QQQM	Invesco NASDAQ 100	Pair Corr
0.8	IWY	iShares Russell Top	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.75	BA	Boeing	Pair Corr
0.79	AXP	American Express	Pair Corr
0.76	WMT	Walmart Earnings Call This Week	Pair Corr
0.63	JPM	JPMorgan Chase	Pair Corr

Moving against Alger Etf

0.6	HPQ	HP Inc	Pair Corr
0.61	XOM	Exxon Mobil Corp	Pair Corr
0.56	AA	Alcoa Corp	Pair Corr
0.53	TRV	The Travelers Companies	Pair Corr
0.51	INTC	Intel Aggressive Push	Pair Corr
0.44	MRK	Merck Company	Pair Corr
0.33	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	LCG	MBCC	DWAW	SXQG	QQH
LCG		0.82	0.89	0.87	0.36	LCG
MBCC	0.82		0.92	0.91	0.17	MBCC
DWAW	0.89	0.92		0.97	0.27	DWAW
SXQG	0.87	0.91	0.97		0.41	SXQG
QQH	0.36	0.17	0.27	0.41		QQH
	LCG	MBCC	DWAW	SXQG	QQH

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Alger 35 Constituents Risk-Adjusted Indicators

There is a big difference between Alger Etf performing well and Alger 35 ETF 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 35'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
LCG	0.94	0.14	0.10	0.23	1.16	(0.94)	1.89	(1.64)	5.59
MBCC	0.58	0.02	0.02	0.04	0.85	(0.55)	1.12	(1.16)	3.80
DWAW	0.63	0.03	0.03	0.06	0.98	(0.58)	1.19	(1.27)	4.17
SXQG	0.66	0.02	0.02	0.03	0.99	(0.60)	1.08	(1.47)	3.93
QQH	1.08	0.04	0.02	0.09	1.60	(1.04)	1.95	(2.30)	7.57

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