Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AASOX Fund  USD 18.47  0.16  0.86%   
The current 90-days correlation between Alger Small Cap and Doubleline Total Return is -0.05 (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

Poor diversification

The correlation between Alger Small Cap and DJI is 0.72 (i.e., Poor 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

  0.88AMGAX Alger Midcap GrowthPairCorr
  0.88AMGCX Alger Midcap GrowthPairCorr
  0.92AMGOX Alger Mid CapPairCorr
  0.98AOFYX Alger Small CapPairCorr
  0.98AOFIX Alger Small CapPairCorr
  0.94AOFAX Alger Small CapPairCorr
  0.98AOFCX Alger Small CapPairCorr
  0.7CHUSX Alger Global GrowthPairCorr
  0.74CHUCX Alger Global GrowthPairCorr
  0.93AAEMX Alger Emerging MarketsPairCorr
  0.95AAGOX Alger Large CapPairCorr
  0.93AAIYX Alger Mid CapPairCorr
  1.0ASCYX Alger FundsPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  0.91ASPCX Alger SpectraPairCorr
  0.91ASPZX Alger SpectraPairCorr
  0.94ASPYX Alger SpectraPairCorr
  0.94ASPIX Alger SpectraPairCorr
  0.93ABLOX Alger Balanced PortfolioPairCorr
  0.94ACAZX Alger Capital ApprecPairCorr
  0.94ACARX Alger Capital ApprecPairCorr
  0.92ACAAX Alger Capital ApprecPairCorr
  0.94ATVPX Alger 35 FundPairCorr
  0.96ACEMX Alger Emerging MarketsPairCorr
  0.94ACIZX Alger Capital ApprecPairCorr
  0.74ADOCX Alger Dynamic OpportPairCorr
  0.76ADOZX Alger Dynamic OpportPairCorr
  0.94CNEIX Alger Concentrated EquityPairCorr
  0.92CNEYX Alger Concentrated EquityPairCorr
  0.92CNEZX Alger Concentrated EquityPairCorr
  0.77AFGZX Alger Global GrowthPairCorr
  0.81AFGPX Alger International Potential GrowthPairCorr
  0.77AFGIX Alger Global GrowthPairCorr
  0.92AFOIX Alger Mid CapPairCorr
  0.95AFOZX Alger Funds MidPairCorr
  0.91AGFCX Alger ResponsiblePairCorr

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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