Alger Smallcap Correlations

Mutual Funds . USA . 
Fund . Alger Smallcap Growth
ALSAX Fund  USD 10.16  0.05  0.49%   
The current 90-days correlation between Alger Smallcap Growth and Needham Small Cap is 0.86 (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 0.83 (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 nation.

Moving together with Alger Mutual Fund

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.96AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.99AAGOX Alger Large CapPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.97ASIMX Alger Smidcap FocusPairCorr
  0.95ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.97ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.98ACEMX Alger Emerging MarketsPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.94ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.99AFOZX Alger Funds MidPairCorr
  0.97AGIRX Alger Midcap GrowthPairCorr
  0.99AGIFX Alger ResponsiblePairCorr
  0.98AGOZX Alger Small CapPairCorr
  0.98AGSCX Alger Smallcap GrowthPairCorr
  0.98AIEMX Alger Emerging MarketsPairCorr
  0.97AIGOX Alger Growth IncomePairCorr
  0.99ALARX Alger Capital ApprecPairCorr
  0.98ALAFX Alger Capital ApprecPairCorr
  0.98ALCZX Alger InternationalPairCorr
  0.99ALCFX Alger Capital ApprecPairCorr
  0.99ALMRX Alger Midcap GrowthPairCorr
  0.95ALMAX Alger Smidcap FocusPairCorr
  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.

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