Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AOFYX Fund  USD 20.12  0.25  1.26%   
The current 90-days correlation between Alger Small Cap and Pax High Yield is 0.62 (i.e., Poor 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 0.9 (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 manufacturing.

Moving together with Alger Mutual Fund

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  1.0AOFIX Alger Small CapPairCorr
  1.0AOFAX Alger Small CapPairCorr
  1.0AOFCX Alger Small CapPairCorr
  0.97CHUSX Alger Global GrowthPairCorr
  0.97CHUCX Alger Global GrowthPairCorr
  0.96AAEMX Alger Emerging MarketsPairCorr
  0.97AAGOX Alger Large CapPairCorr
  0.97AAICX Alger Ai EnablersPairCorr
  0.97AAIZX Alger Ai EnablersPairCorr
  0.97AAIYX Alger Mid CapPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.99AASOX Alger Small CapPairCorr
  0.99ASIRX Alger Smallcap GrowthPairCorr
  0.96ASIMX Alger Smidcap FocusPairCorr
  0.96ASMZX Alger Smidcap FocusPairCorr
  0.97ASPCX Alger SpectraPairCorr
  0.97ASPZX Alger SpectraPairCorr
  0.97ASPYX Alger SpectraPairCorr
  0.97ASPIX Alger SpectraPairCorr
  0.96ASYMX Alger Weatherbie SpePairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  0.97ACAYX Alger Capital ApprecPairCorr
  0.97ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  0.97ACAAX Alger Capital ApprecPairCorr
  0.97ATVPX Alger 35 FundPairCorr
  0.96ACEMX Alger Emerging MarketsPairCorr
  0.97ACIZX Alger Capital ApprecPairCorr
  0.94ADOCX Alger Dynamic OpportPairCorr
  0.94ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  0.97CNEYX Alger Concentrated EquityPairCorr
  0.97CNEZX Alger Concentrated EquityPairCorr
  0.97AFGZX Alger Global GrowthPairCorr
  0.97AFGIX Alger Global GrowthPairCorr
  0.98AFOZX Alger Funds MidPairCorr

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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