Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AOFIX Fund  USD 18.84  0.04  0.21%   
The current 90-days correlation between Alger Small Cap and Morningstar Global Income is -0.06 (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 0.62 (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 gross domestic product.

Moving together with Alger Mutual Fund

  0.68AOFAX Alger Small CapPairCorr
  0.68AOFCX Alger Small CapPairCorr
  0.84AAGOX Alger Large CapPairCorr
  0.65ASCZX Alger Smallcap GrowthPairCorr
  0.88AASOX Alger Small CapPairCorr
  0.92ASIMX Alger Smidcap FocusPairCorr
  0.92ASMZX Alger Smidcap FocusPairCorr
  0.61ASPCX Alger SpectraPairCorr
  0.61ASPZX Alger SpectraPairCorr
  0.94ASPIX Alger SpectraPairCorr
  0.86ABLOX Alger Balanced PortfolioPairCorr
  0.88ADOCX Alger Dynamic OpportPairCorr
  0.89ADOZX Alger Dynamic OpportPairCorr
  0.93CNEIX Alger Concentrated EquityPairCorr
  0.84AFGZX Alger Global GrowthPairCorr
  0.64AFOZX Alger Funds MidPairCorr
  0.85AGIRX Alger Midcap GrowthPairCorr
  0.84AGIFX Alger ResponsiblePairCorr
  0.68AGOZX Alger Small CapPairCorr
  0.88AGSCX Alger Smallcap GrowthPairCorr
  0.94AIGOX Alger Growth IncomePairCorr
  0.84ALARX Alger Capital ApprecPairCorr
  0.94ALAFX Alger Capital ApprecPairCorr
  0.85ALCZX Alger InternationalPairCorr
  0.85ALCFX Alger Capital ApprecPairCorr
  0.85ALMRX Alger Midcap GrowthPairCorr
  0.92ALMAX Alger Smidcap FocusPairCorr
  0.98ALSAX Alger Smallcap GrowthPairCorr
  0.98ALSCX Alger Smallcap GrowthPairCorr
  0.66ALSRX Alger Smallcap GrowthPairCorr
  0.94ALVOX Alger Capital ApprecPairCorr
  0.94ALZFX Alger Capital ApprecPairCorr

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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