Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AASOX Fund  USD 16.99  0.23  1.34%   
The current 90-days correlation between Alger Small Cap and Needham Aggressive Growth is -0.19 (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

Almost no diversification

The correlation between Alger Small Cap and DJI is 0.92 (i.e., Almost no 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 persons.

Moving together with Alger Mutual Fund

  0.96AMGAX Alger Midcap GrowthPairCorr
  0.96AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.95AOFIX Alger Small CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.99AOFCX Alger Small CapPairCorr
  0.96CHUSX Alger Global GrowthPairCorr
  0.96CHUCX Alger Global GrowthPairCorr
  0.95AAEMX Alger Emerging MarketsPairCorr
  0.99AAGOX Alger Large CapPairCorr
  0.97AAIYX Alger Mid CapPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.94ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.99ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  0.97ACAAX Alger Capital ApprecPairCorr
  0.97ATVPX Alger 35 FundPairCorr
  0.99ACIZX Alger Capital ApprecPairCorr
  0.95ADOCX Alger Dynamic OpportPairCorr
  0.95ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.96CNEYX Alger Concentrated EquityPairCorr
  0.96CNEZX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.94AFGPX Alger InternationalPairCorr
  1.0AFOIX Alger Mid CapPairCorr
  1.0AFOZX Alger Funds MidPairCorr
  0.99AGIZX Alger Growth IncomePairCorr
  0.95AGOZX Alger Small CapPairCorr
  1.0AGSCX Alger Smallcap GrowthPairCorr
  0.61AHSAX Alger Health SciencesPairCorr

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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