Alger Mid Correlations

AAIYX Fund

USD 15.78 0.16 1.02%

The current 90-days correlation between Alger Mid Cap and Morgan Stanley Pathway is -0.1 (i.e., Good diversification). The correlation of Alger Mid 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 Mid Correlation With Market

Good diversification

The correlation between Alger Mid Cap and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Mid 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 Mid 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 manufacturing.

Moving together with Alger Mutual Fund

0.68	DBD	Diebold Nixdorf,	Pair Corr
0.65	GENVR	Gen Digital Contingent	Pair Corr
0.74	CORZZ	Core Scientific, Tranche	Pair Corr
0.88	STRF	MicroStrategy Incorporated	Pair Corr
0.99	AMGAX	Alger Midcap Growth	Pair Corr
0.99	AMGCX	Alger Midcap Growth	Pair Corr
0.99	AMGOX	Alger Mid Cap	Pair Corr
0.96	AOFYX	Alger Small Cap	Pair Corr

Moving against Alger Mutual Fund

0.84	VSTE	Vast Renewables	Pair Corr
0.65	EXOD	Exodus Movement,	Pair Corr
0.61	JNPR	Juniper Networks	Pair Corr
0.36	DVLT	Datavault AI Symbol Change	Pair Corr
0.92	SMTK	SmartKem, Common Stock	Pair Corr
0.85	NOVA	Sunnova Energy Inter	Pair Corr
0.43	AXIL	AXIL Brands, Trending	Pair Corr
0.33	DAICW	CID HoldCo, Warrants	Pair Corr
0.33	APCX	Apptech Corp	Pair Corr
0.32	ODYS	Odysightai Common Stock	Pair Corr
0.31	SLNHP	Soluna Holdings Preferred	Pair Corr

Related Correlations Analysis

	TALTX	NQQQX	JSMSX	LANIX	URNQX	CLPCX
TALTX		0.97	0.99	0.63	0.65	0.82	TALTX
NQQQX	0.97		0.99	0.64	0.67	0.85	NQQQX
JSMSX	0.99	0.99		0.64	0.67	0.84	JSMSX
LANIX	0.63	0.64	0.64		1.0	0.72	LANIX
URNQX	0.65	0.67	0.67	1.0		0.75	URNQX
CLPCX	0.82	0.85	0.84	0.72	0.75		CLPCX
	TALTX	NQQQX	JSMSX	LANIX	URNQX	CLPCX

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Mid 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 Mid'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
TALTX	0.11	0.03	(0.48)	0.75	0.00	(0.16)	0.28	(0.19)	0.86
NQQQX	0.72	0.29	0.32	0.59	0.00	(0.91)	2.27	(0.92)	5.36
JSMSX	0.32	0.10	0.03	0.44	0.00	(0.42)	0.88	(0.51)	2.39
LANIX	0.53	0.21	0.07	(2.56)	0.42	(0.63)	1.63	(1.23)	4.08
URNQX	0.79	0.32	0.15	(4.47)	0.61	(0.89)	2.39	(1.28)	5.37
CLPCX	0.61	0.28	0.27	2.55	0.00	(0.82)	1.52	(0.78)	5.02

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