Alger Smidcap Correlations

Mutual Funds . USA . 
Fund . Alger Smidcap Focus
ASIMX Fund  USD 13.71  0.06  0.44%   
The current 90-days correlation between Alger Smidcap Focus and World Precious Minerals is -0.08 (i.e., Good 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

Very poor diversification

The correlation between Alger Smidcap Focus and DJI is 0.8 (i.e., Very 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 population.

Moving together with Alger Mutual Fund

  0.96AMGAX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.92AOFAX Alger Small CapPairCorr
  0.92AOFCX Alger Small CapPairCorr
  0.97AAGOX Alger Large CapPairCorr
  0.96ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  0.96ASPCX Alger SpectraPairCorr
  0.96ASPZX Alger SpectraPairCorr
  0.98ASPIX Alger SpectraPairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  0.98ACAZX Alger Capital ApprecPairCorr
  0.95ACEMX Alger Emerging MarketsPairCorr
  0.95ADOCX Alger Dynamic OpportPairCorr
  0.96ADOZX Alger Dynamic OpportPairCorr
  0.96CNEIX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.95AFOZX Alger Funds MidPairCorr
  0.98AGIRX Alger Midcap GrowthPairCorr
  0.98AGIFX Alger ResponsiblePairCorr
  0.94AGOZX Alger Small CapPairCorr
  0.97AGSCX Alger Smallcap GrowthPairCorr
  0.95AIEMX Alger Emerging MarketsPairCorr
  0.95AIGOX Alger Growth IncomePairCorr
  0.98ALARX Alger Capital ApprecPairCorr
  0.96ALAFX Alger Capital ApprecPairCorr
  0.96ALCZX Alger InternationalPairCorr
  0.97ALCFX Alger Capital ApprecPairCorr
  0.98ALMRX Alger Midcap GrowthPairCorr
  0.97ALMAX Alger Smidcap FocusPairCorr
  0.95ALSAX Alger Smallcap GrowthPairCorr
  0.95ALSCX Alger Smallcap GrowthPairCorr
  0.95ALSRX Alger Smallcap GrowthPairCorr
  0.98ALVOX Alger Capital ApprecPairCorr
  0.97ALZFX 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 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.

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