Alger Smidcap Correlations

ASIMX Fund

USD 14.15 0.04 0.28%

The current 90-days correlation between Alger Smidcap Focus and Lincoln Inflation Plus is 0.14 (i.e., Average diversification). The correlation of Alger Smidcap 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 Smidcap Correlation With Market

Poor diversification

The correlation between Alger Smidcap Focus and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smidcap Focus 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 Smidcap Focus. 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 industry.

Moving together with Alger Mutual Fund

0.68	AMGAX	Alger Midcap Growth	Pair Corr
0.68	AMGCX	Alger Midcap Growth	Pair Corr
0.67	AMGOX	Alger Mid Cap	Pair Corr
0.71	AOFYX	Alger Small Cap	Pair Corr
0.71	AOFIX	Alger Small Cap	Pair Corr
0.71	AOFAX	Alger Small Cap	Pair Corr
0.71	AOFCX	Alger Small Cap	Pair Corr
0.64	CHUSX	Alger Global Growth	Pair Corr
0.63	CHUCX	Alger Global Growth	Pair Corr
0.67	ASCYX	Alger Funds	Pair Corr
0.66	ASCZX	Alger Smallcap Growth	Pair Corr
0.65	AASOX	Alger Small Cap	Pair Corr
0.66	ASIRX	Alger Smallcap Growth	Pair Corr
1.0	ASMZX	Alger Smidcap Focus	Pair Corr
1.0	ASYMX	Alger Weatherbie Spe	Pair Corr
0.65	ADOCX	Alger Dynamic Opport	Pair Corr
0.66	ADOZX	Alger Dynamic Opport	Pair Corr
0.64	AFGZX	Alger Global Growth	Pair Corr

Related Correlations Analysis

	LFTAX	LIFFX	ABNYX	ABNTX	QMHNX	IPBAX	LIPNX
LFTAX		0.74	0.68	0.68	0.94	0.92	0.79	LFTAX
LIFFX	0.74		0.99	0.99	0.83	0.89	0.97	LIFFX
ABNYX	0.68	0.99		1.0	0.79	0.86	0.96	ABNYX
ABNTX	0.68	0.99	1.0		0.79	0.86	0.96	ABNTX
QMHNX	0.94	0.83	0.79	0.79		0.96	0.87	QMHNX
IPBAX	0.92	0.89	0.86	0.86	0.96		0.93	IPBAX
LIPNX	0.79	0.97	0.96	0.96	0.87	0.93		LIPNX
	LFTAX	LIFFX	ABNYX	ABNTX	QMHNX	IPBAX	LIPNX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Smidcap 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 Smidcap'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
LFTAX	0.26	0.07	0.01	0.69	0.13	(0.32)	0.49	(0.50)	1.29
LIFFX	0.11	0.02	(0.41)	1.54	0.00	(0.16)	0.34	(0.17)	0.59
ABNYX	0.10	0.02	(0.33)	0.57	0.00	(0.17)	0.28	(0.19)	0.76
ABNTX	0.11	0.02	(0.35)	0.62	0.00	(0.17)	0.29	(0.19)	0.68
QMHNX	0.43	0.14	0.13	0.61	0.40	(0.50)	1.20	(0.89)	3.15
IPBAX	0.27	0.03	(0.01)	0.15	0.09	(0.33)	0.56	(0.48)	1.70
LIPNX	0.17	0.02	(0.23)	0.47	0.00	(0.24)	0.32	(0.21)	0.84

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Alger Smidcap Correlations

Alger Smidcap Correlation With Market

Poor diversification

Moving together with Alger Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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