Alger Smidcap Correlations

Mutual Funds USA . 
Fund . Alger Smidcap Focus
ASMZX Fund  USD 14.92  0.19  1.29%   
The current 90-days correlation between Alger Smidcap Focus and Valic Company I is -0.22 (i.e., Very 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 good diversification

The correlation between Alger Smidcap Focus and DJI is -0.25 (i.e., Very good 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 nation.

Moving together with Alger Mutual Fund

  0.97AMGAX Alger Midcap GrowthPairCorr
  0.97AMGCX Alger Midcap GrowthPairCorr
  0.95AMGOX Alger Mid CapPairCorr
  0.91AOFYX Alger Small CapPairCorr
  0.91AOFIX Alger Small CapPairCorr
  0.91AOFAX Alger Small CapPairCorr
  0.94AOFCX Alger Small CapPairCorr
  0.96CHUSX Alger Global GrowthPairCorr
  0.96CHUCX Alger Global GrowthPairCorr
  0.95AAEMX Alger Emerging MarketsPairCorr
  0.96AAGOX Alger Large CapPairCorr
  0.96AAICX Alger Ai EnablersPairCorr
  0.96AAIZX Alger Ai EnablersPairCorr
  0.97AAIYX Alger Mid CapPairCorr
  0.94ASCYX Alger FundsPairCorr
  0.95AASOX Alger Small CapPairCorr
  0.97ASIMX Alger Smidcap FocusPairCorr
  0.97ASPCX Alger SpectraPairCorr
  0.96ASPZX Alger SpectraPairCorr
  0.96ASPYX Alger SpectraPairCorr
  0.97ASPIX Alger SpectraPairCorr
  0.92ABLOX Alger Balanced PortfolioPairCorr
  0.96ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  0.97ACAAX Alger Capital ApprecPairCorr
  0.96ATVPX Alger 35 FundPairCorr
  0.96ADOCX Alger Dynamic OpportPairCorr
  0.96ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  0.97CNEYX Alger Concentrated EquityPairCorr
  0.97CNEZX Alger Concentrated EquityPairCorr
  0.96AFGZX Alger Global GrowthPairCorr
  0.96AFGPX Alger InternationalPairCorr
  0.96AFGIX Alger Global GrowthPairCorr
  0.95AFOZX Alger Funds MidPairCorr
  0.96AGFCX Alger ResponsiblePairCorr
  0.95AGIRX Alger Midcap GrowthPairCorr
  0.96AGIFX Alger ResponsiblePairCorr
  0.91AGOZX Alger Small CapPairCorr

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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