Alger Mid Correlations

AAIYX Fund

USD 15.78 0.16 1.02%

The current 90-days correlation between Alger Mid Cap and Yuanbao American Depositary is 0.03 (i.e., Significant diversification). The correlation of Alger Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Alger Mid Cap and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Mid 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 Mid 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 manufacturing.

Moving together with Alger Mutual Fund

0.72	VVPR	VivoPower International Tech Boost	Pair Corr
0.93	DBD	Diebold Nixdorf,	Pair Corr
0.64	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.76	BULLW	Webull Warrants Trending	Pair Corr
0.71	MIND	Mind Technology	Pair Corr
0.9	HPE-PC	Hewlett Packard Ente	Pair Corr
0.91	CORZZ	Core Scientific, Tranche	Pair Corr
0.7	RZLVW	Rezolve AI Limited	Pair Corr
0.83	SATX	SatixFy Communications	Pair Corr
0.88	STRF	MicroStrategy Incorporated	Pair Corr
0.98	AMGAX	Alger Midcap Growth	Pair Corr
0.98	AMGCX	Alger Midcap Growth	Pair Corr
0.99	AMGOX	Alger Mid Cap	Pair Corr

Moving against Alger Mutual Fund

0.87	HPAIW	Helport AI Limited	Pair Corr
0.84	VSTE	Vast Renewables	Pair Corr
0.77	VISL	Vislink Technologies	Pair Corr
0.63	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.62	APCXW	AppTech Payments Corp	Pair Corr
0.38	VBIX	Viewbix Common Stock	Pair Corr
0.35	DVLT	Datavault AI Symbol Change	Pair Corr
0.92	SMTK	SmartKem, Common Stock	Pair Corr
0.85	NOVA	Sunnova Energy Inter	Pair Corr
0.72	APCX	Apptech Corp	Pair Corr
0.51	ODYS	Odysightai Common Stock	Pair Corr
0.48	SLNHP	Soluna Holdings Preferred	Pair Corr
0.44	AXIL	AXIL Brands, Trending	Pair Corr

Related Correlations Analysis

	YB	VBIX	DVLT	VVPR	EXOD	AMGAX	AMGCX	AMGOX	AOFYX	AOFIX
YB		-0.17	-0.54	-0.19	-0.04	-0.01	-0.01	-0.01	0.09	0.09	YB
VBIX	-0.17		0.32	0.08	0.27	-0.39	-0.39	-0.41	-0.4	-0.4	VBIX
DVLT	-0.54	0.32		0.0	0.03	-0.32	-0.31	-0.33	-0.35	-0.35	DVLT
VVPR	-0.19	0.08	0.0		-0.44	0.69	0.69	0.69	0.65	0.65	VVPR
EXOD	-0.04	0.27	0.03	-0.44		-0.64	-0.64	-0.61	-0.62	-0.62	EXOD
AMGAX	-0.01	-0.39	-0.32	0.69	-0.64		1.0	0.99	0.97	0.97	AMGAX
AMGCX	-0.01	-0.39	-0.31	0.69	-0.64	1.0		0.99	0.97	0.97	AMGCX
AMGOX	-0.01	-0.41	-0.33	0.69	-0.61	0.99	0.99		0.95	0.95	AMGOX
AOFYX	0.09	-0.4	-0.35	0.65	-0.62	0.97	0.97	0.95		1.0	AOFYX
AOFIX	0.09	-0.4	-0.35	0.65	-0.62	0.97	0.97	0.95	1.0		AOFIX
	YB	VBIX	DVLT	VVPR	EXOD	AMGAX	AMGCX	AMGOX	AOFYX	AOFIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AMGCX	+ 1.0	AMGAX
AOFIX	+ 1.0	AOFYX
AMGOX	+ 0.99	AMGAX
AMGOX	+ 0.99	AMGCX
AOFYX	+ 0.97	AMGAX
AOFIX	+ 0.97	AMGAX

High negative correlations

AMGCX	- 0.64	EXOD
AMGAX	- 0.64	EXOD
AOFIX	- 0.62	EXOD
AOFYX	- 0.62	EXOD
AMGOX	- 0.61	EXOD
DVLT	- 0.54	YB

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Mid 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 Mid'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
YB	3.76	1.07	0.27	4.66	3.01	(4.85)	14.01	(6.02)	27.13
VBIX	7.96	(0.07)	0.00	0.09	12.24	(8.38)	14.34	(20.18)	88.20
DVLT	5.15	(0.01)	0.00	0.12	5.83	(6.44)	12.33	(9.89)	33.36
VVPR	7.94	1.85	0.18	(19.07)	8.43	(9.98)	22.54	(11.48)	62.08
EXOD	6.56	0.03	0.00	0.18	8.48	(6.66)	16.85	(10.55)	43.33
AMGAX	0.90	0.35	0.15	(1.28)	0.74	(0.99)	2.53	(1.30)	5.74
AMGCX	0.90	0.35	0.15	(1.24)	0.78	(1.00)	2.55	(1.29)	5.75
AMGOX	0.90	0.21	0.16	0.34	0.71	(0.98)	2.62	(1.40)	5.79
AOFYX	1.07	0.25	0.08	(1.68)	1.02	(1.23)	2.58	(2.14)	6.55
AOFIX	1.07	0.25	0.08	(1.61)	0.99	(1.19)	2.61	(2.11)	6.55

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