Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AASOX Fund  USD 17.19  0.11  0.64%   
The current 90-days correlation between Alger Small Cap and Legg Mason Partners is -0.11 (i.e., Good 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

Good diversification

The correlation between Alger Small Cap and DJI is -0.19 (i.e., Good 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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alger Small 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 persons.

Moving together with Alger Mutual Fund

  0.99AMGAX Alger Midcap GrowthPairCorr
  0.99AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.96AOFYX Alger Small CapPairCorr
  0.98AOFIX Alger Small CapPairCorr
  0.98AOFAX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.98CHUCX Alger Global GrowthPairCorr
  0.98AAEMX Alger Emerging MarketsPairCorr
  0.98ASCZX Alger Smallcap GrowthPairCorr
  0.95ASIMX Alger Smidcap FocusPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  0.98ASPIX Alger SpectraPairCorr
  0.97ASYMX Alger Weatherbie SpePairCorr
  0.98ACAZX Alger Capital ApprecPairCorr
  0.98ACEMX Alger Emerging MarketsPairCorr
  0.94ADOCX Alger Dynamic OpportPairCorr
  0.95ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.99CNEYX Alger Concentrated EquityPairCorr
  0.97CNEZX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.99AGIZX Alger Growth IncomePairCorr
  0.98AGIFX Alger ResponsiblePairCorr
  0.99AIFAX Alger Ai EnablersPairCorr
  0.97AIGOX Alger Growth IncomePairCorr
  0.98AIGIX Alger InternationalPairCorr
  0.99SPEGX Alger ResponsiblePairCorr
  0.99ALAFX Alger Capital ApprecPairCorr
  0.99ALCFX Alger Capital ApprecPairCorr
  0.99ALGZX Alger ResponsiblePairCorr
  0.98ALGRX Alger Capital ApprecPairCorr
  1.0ALSAX Alger Smallcap GrowthPairCorr
  1.0ALSCX Alger Smallcap GrowthPairCorr
  0.99ALZFX Alger Capital ApprecPairCorr
  0.96VSGAX Vanguard Small CapPairCorr
  0.96VSGIX Vanguard Small CapPairCorr
  0.96VISGX Vanguard Small CapPairCorr

Related Correlations Analysis

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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.

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