Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AASOX Fund  USD 18.16  0.42  2.37%   
The current 90-days correlation between Alger Small Cap and Eagle Small Cap is 0.91 (i.e., Almost no 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 -0.05 (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 producer price index.

Moving together with Alger Mutual Fund

  0.76AMGAX Alger Midcap GrowthPairCorr
  0.65AMGCX Alger Midcap GrowthPairCorr
  0.79AMGOX Alger Mid CapPairCorr
  0.98AOFYX Alger Small Cap Steady GrowthPairCorr
  0.87AOFIX Alger Small Cap Steady GrowthPairCorr
  0.87AOFAX Alger Small Cap Steady GrowthPairCorr
  0.98AOFCX Alger Small Cap Steady GrowthPairCorr
  0.72AAEMX Alger Emerging MarketsPairCorr
  0.9AAGOX Alger Large CapPairCorr
  0.83AAICX Alger Ai EnablersPairCorr
  0.83AAIZX Alger Ai EnablersPairCorr
  0.83AAIYX Alger Mid CapPairCorr
  0.88ASCYX Alger FundsPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  0.99ASIRX Alger Smallcap GrowthPairCorr
  0.9ASPCX Alger SpectraPairCorr
  0.89ASPZX Alger SpectraPairCorr
  0.89ASPYX Alger SpectraPairCorr
  0.9ASPIX Alger SpectraPairCorr
  0.63ABLOX Alger Balanced PortfolioPairCorr
  0.89ACAYX Alger Capital ApprecPairCorr
  0.89ACAZX Alger Capital ApprecPairCorr
  0.81ACAAX Alger Capital ApprecPairCorr
  0.89ATVPX Alger 35 FundPairCorr
  0.69ACEMX Alger Emerging MarketsPairCorr
  0.89ACIZX Alger Capital ApprecPairCorr
  0.81CNEIX Alger Concentrated EquityPairCorr
  0.81CNEYX Alger Concentrated EquityPairCorr
  0.81CNEZX Alger Concentrated EquityPairCorr
  0.74AFGPX Alger InternationalPairCorr
  0.69AFOIX Alger Mid CapPairCorr

Related Correlations Analysis


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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