Alger ETF Correlations

CNEQ Etf

27.91 0.29 1.03%

The current 90-days correlation between Alger ETF and Vanguard Growth Index is 0.98 (i.e., Almost no diversification). The correlation of Alger ETF 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 ETF Correlation With Market

Good diversification

The correlation between The Alger ETF and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Alger ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alger Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Alger ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Alger Etf

0.99	VUG	Vanguard Growth Index	Pair Corr
0.96	IWF	iShares Russell 1000	Pair Corr
0.96	IVW	iShares SP 500	Pair Corr
0.96	SPYG	SPDR Portfolio SP	Pair Corr
0.96	IUSG	iShares Core SP	Pair Corr
0.96	VONG	Vanguard Russell 1000	Pair Corr
0.96	MGK	Vanguard Mega Cap	Pair Corr
0.96	VRGWX	Vanguard Russell 1000	Pair Corr
0.96	QQQM	Invesco NASDAQ 100	Pair Corr
0.95	IWY	iShares Russell Top	Pair Corr
0.86	MDY	SPDR SP MIDCAP	Pair Corr
0.88	SLYG	SPDR SP 600	Pair Corr
0.91	KRMA	Global X Conscious	Pair Corr
0.97	SPY	SPDR SP 500	Pair Corr
0.97	IVV	iShares Core SP	Pair Corr
0.88	NFLX	Netflix	Pair Corr
0.69	SLYV	SPDR SP 600	Pair Corr
0.94	IGV	iShares Expanded Tech	Pair Corr
0.87	IHY	VanEck International High	Pair Corr
0.65	EMCG	Embrace Change Acqui	Pair Corr
0.87	BRRR	Valkyrie Bitcoin	Pair Corr
0.91	DCPE	DoubleLine Shiller CAPE	Pair Corr
0.99	NBGX	Neuberger Berman ETF	Pair Corr
0.89	FID	First Trust Intl	Pair Corr
0.97	DVQQ	WEBs Defined Volatility	Pair Corr
0.95	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.83	OBND	SSGA Active Trust	Pair Corr
0.86	GYLD	Arrow ETF Trust	Pair Corr
0.99	QGRW	WisdomTree Trust	Pair Corr
0.93	JIRE	JP Morgan Exchange	Pair Corr
0.86	NFXL	Direxion Daily NFLX	Pair Corr
0.96	FRNW	Fidelity Covington Trust	Pair Corr
0.92	SPHY	SPDR Portfolio High	Pair Corr
0.87	DWMF	WisdomTree International	Pair Corr
0.95	SWAN	Amplify BlackSwan Growth	Pair Corr
0.81	GSIG	Goldman Sachs Access	Pair Corr
0.91	IPAC	iShares Core MSCI	Pair Corr

Moving against Alger Etf

0.57

TLT

iShares 20 Year

Pair Corr

Related Correlations Analysis

	VUG	IWF	IVW	SPYG	IUSG	VONG	MGK	VRGWX	QQQM	IWY
VUG		0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	VUG
IWF	0.95		1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	IWF
IVW	0.95	1.0		1.0	1.0	1.0	1.0	1.0	1.0	1.0	IVW
SPYG	0.95	1.0	1.0		1.0	1.0	1.0	1.0	1.0	1.0	SPYG
IUSG	0.95	1.0	1.0	1.0		1.0	1.0	1.0	1.0	1.0	IUSG
VONG	0.95	1.0	1.0	1.0	1.0		1.0	1.0	1.0	1.0	VONG
MGK	0.95	1.0	1.0	1.0	1.0	1.0		1.0	1.0	1.0	MGK
VRGWX	0.95	1.0	1.0	1.0	1.0	1.0	1.0		1.0	1.0	VRGWX
QQQM	0.95	1.0	1.0	1.0	1.0	1.0	1.0	1.0		1.0	QQQM
IWY	0.95	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0		IWY
	VUG	IWF	IVW	SPYG	IUSG	VONG	MGK	VRGWX	QQQM	IWY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Alger ETF Constituents Risk-Adjusted Indicators

There is a big difference between Alger Etf performing well and Alger ETF ETF 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 ETF'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
VUG	1.35	0.17	0.07	(1.71)	1.95	(1.38)	2.68	(3.05)	15.57
IWF	1.32	0.14	0.07	0.13	1.86	(1.34)	2.63	(3.00)	15.48
IVW	1.30	0.15	0.07	0.15	1.88	(1.31)	2.68	(2.91)	15.18
SPYG	1.30	0.16	0.07	0.15	1.88	(1.25)	2.70	(2.86)	15.25
IUSG	1.29	0.15	0.08	0.15	1.82	(1.37)	2.75	(2.81)	14.86
VONG	1.33	0.14	0.07	0.13	1.87	(1.39)	2.70	(3.00)	15.61
MGK	1.37	0.15	0.07	0.14	1.92	(1.37)	2.67	(3.28)	16.27
VRGWX	1.33	0.14	0.07	0.13	1.85	(1.36)	2.73	(3.03)	15.83
QQQM	1.28	0.14	0.07	0.13	1.85	(1.29)	2.58	(3.01)	15.80
IWY	1.31	0.13	0.06	0.13	1.93	(1.26)	2.78	(3.17)	15.23

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC