Alger Smallcap Correlations

Mutual Funds . USA . 
Fund . Alger Smallcap Growth
AGSCX Fund  USD 6.20  0.03  0.48%   
The current 90-days correlation between Alger Smallcap Growth and Alger Midcap Growth is 0.89 (i.e., Very poor diversification). The correlation of Alger Smallcap 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 Smallcap Correlation With Market

Very poor diversification

The correlation between Alger Smallcap Growth and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smallcap Growth 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 Smallcap Growth. 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 main economic indicators.

Moving together with Alger Mutual Fund

  0.99AMGAX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.99AOFAX Alger Small CapPairCorr
  0.99AOFCX Alger Small CapPairCorr
  0.99AAGOX Alger Large CapPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  1.0AASOX Alger Small CapPairCorr
  0.97ASIMX Alger Smidcap FocusPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.99ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.98ACEMX Alger Emerging MarketsPairCorr
  0.94ADOCX Alger Dynamic OpportPairCorr
  0.94ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.99AFOZX Alger Funds MidPairCorr
  0.99AGIRX Alger Midcap GrowthPairCorr
  0.99AGIFX Alger ResponsiblePairCorr
  0.99AGOZX Alger Small CapPairCorr
  0.98AIEMX Alger Emerging MarketsPairCorr
  0.99AIGOX Alger Growth IncomePairCorr
  0.99ALARX Alger Capital ApprecPairCorr
  0.99ALAFX Alger Capital ApprecPairCorr
  0.98ALCZX Alger InternationalPairCorr
  0.99ALCFX Alger Capital ApprecPairCorr
  0.99ALMRX Alger Midcap GrowthPairCorr
  0.97ALMAX Alger Smidcap FocusPairCorr
  1.0ALSAX Alger Smallcap GrowthPairCorr
  1.0ALSCX Alger Smallcap GrowthPairCorr
  1.0ALSRX Alger Smallcap GrowthPairCorr
  0.99ALVOX Alger Capital ApprecPairCorr
  0.99ALZFX 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 Smallcap 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 Smallcap'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMGAX  0.90  0.19  0.15  0.32  0.74 
(1.00)
 2.53 
(1.30)
 5.74 
AMGCX  0.90  0.19  0.15  0.32  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  1.06  0.06  0.06  0.18  1.01 
(1.23)
 2.58 
(2.14)
 6.55 
AOFIX  1.06  0.05  0.06  0.18  1.00 
(1.19)
 2.61 
(2.11)
 6.55 
AOFAX  1.10  0.05  0.06  0.17  1.05 
(1.27)
 2.57 
(2.13)
 6.54 
AOFCX  1.06  0.05  0.06  0.17  1.01 
(1.19)
 2.61 
(2.11)
 6.66 
CHUSX  0.64  0.18  0.19  0.37  0.26 
(0.78)
 1.99 
(1.16)
 3.93 
CHUCX  0.62  0.18  0.19  0.38  0.20 
(0.75)
 2.01 
(1.00)
 3.89 
AAEMX  0.52  0.16  0.12  0.48  0.15 
(0.66)
 1.81 
(1.11)
 4.01 

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