Alger Ai Correlations

AAICX Fund

13.02 0.14 1.06%

The current 90-days correlation between Alger Ai Enablers and Transamerica Financial Life is 0.29 (i.e., Modest diversification). The correlation of Alger Ai 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 Ai Correlation With Market

Very weak diversification

The correlation between Alger Ai Enablers and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Ai Enablers 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 Ai Enablers. 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

0.85	WEBB	Web Global Holdings	Pair Corr
0.65	WELX	Winland Holdings	Pair Corr
0.83	WGNR	Wegener	Pair Corr
0.83	CETXP	Cemtrex Pref	Pair Corr
0.72	GVP	GSE Systems	Pair Corr

Moving against Alger Mutual Fund

0.85	DLPX	Delphax Technologies	Pair Corr
0.73	VVPR	VivoPower International Tech Boost	Pair Corr
0.66	VHAI	VHAI	Pair Corr
0.66	DZSI	DZS Inc	Pair Corr
0.63	XELAP	Exela Technologies	Pair Corr
0.47	ELCO	Elcom International	Pair Corr
0.33	DMAN	Innovativ Media Group	Pair Corr
0.31	VEEA	Veea Inc Symbol Change	Pair Corr
0.91	EVOL	Evolving Systems	Pair Corr
0.91	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.87	VLD	Velo3D Inc	Pair Corr
0.68	SBIGW	SpringBig Holdings	Pair Corr
0.58	XELA	Exela Technologies Tech Boost	Pair Corr
0.9	ZPTAW	Zapata Computing Holdings	Pair Corr
0.9	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr

Related Correlations Analysis

	IAAEX	MSVIX	VFAIX	RGFIX	RPFGX	FIKBX	MSVVX	MCBXX
IAAEX		0.92	0.88	0.0	0.89	0.87	0.92	0.0	IAAEX
MSVIX	0.92		0.83	0.0	0.86	0.84	1.0	0.08	MSVIX
VFAIX	0.88	0.83		0.0	0.99	1.0	0.83	0.2	VFAIX
RGFIX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	RGFIX
RPFGX	0.89	0.86	0.99	0.0		1.0	0.85	0.19	RPFGX
FIKBX	0.87	0.84	1.0	0.0	1.0		0.84	0.21	FIKBX
MSVVX	0.92	1.0	0.83	0.0	0.85	0.84		0.08	MSVVX
MCBXX	0.0	0.08	0.2	0.0	0.19	0.21	0.08		MCBXX
	IAAEX	MSVIX	VFAIX	RGFIX	RPFGX	FIKBX	MSVVX	MCBXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSVVX	+ 1.0	MSVIX
FIKBX	+ 1.0	VFAIX
FIKBX	+ 1.0	RPFGX
RPFGX	+ 0.99	VFAIX
MSVIX	+ 0.92	IAAEX
MSVVX	+ 0.92	IAAEX

High negative correlations

MCBXX	- 0.0	RGFIX
MSVVX	- 0.0	RGFIX
FIKBX	- 0.0	RGFIX
RPFGX	- 0.0	RGFIX
RGFIX	- 0.0	VFAIX
RGFIX	- 0.0	MSVIX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Ai 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 Ai'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
IAAEX	0.54	(0.02)	(0.09)	0.08	0.52	(0.61)	1.03	(0.98)	3.17
MSVIX	0.79	(0.06)	(0.03)	0.07	0.84	(0.88)	1.78	(1.41)	5.71
VFAIX	0.78	0.08	0.14	0.17	0.51	(0.91)	1.77	(1.22)	8.51
RGFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RPFGX	0.80	0.06	0.12	0.16	0.52	(1.01)	1.85	(1.40)	7.59
FIKBX	0.84	0.09	0.17	0.18	0.51	(1.03)	1.88	(1.15)	9.76
MSVVX	0.79	(0.06)	(0.03)	0.07	0.82	(0.86)	1.78	(1.41)	5.71
MCBXX	0.03	0.00	0.00	0.47	0.00	0.00	0.00	0.00	1.01

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