Alger Smallcap Correlations

Mutual Funds USA . 
Fund . Alger Smallcap Growth
ALSAX Fund  USD 11.26  0.01  0.09%   
The current 90-days correlation between Alger Smallcap Growth and Aqr Large Cap is 0.84 (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

  0.93AMGAX Alger Midcap GrowthPairCorr
  0.93AMGCX Alger Midcap GrowthPairCorr
  0.93AMGOX Alger Mid CapPairCorr
  0.96AOFYX Alger Small CapPairCorr
  0.95AOFIX Alger Small CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.95CHUSX Alger Global GrowthPairCorr
  0.95CHUCX Alger Global GrowthPairCorr
  0.9AAGOX Alger Large CapPairCorr
  0.9AAICX Alger Ai EnablersPairCorr
  0.89AAIZX Alger Ai EnablersPairCorr
  1.0ASCYX Alger FundsPairCorr
  1.0ASCZX Alger Smallcap GrowthPairCorr
  0.99AASOX Alger Small CapPairCorr
  1.0ASIRX Alger Smallcap GrowthPairCorr
  0.92ASIMX Alger Smidcap FocusPairCorr
  0.92ASMZX Alger Smidcap FocusPairCorr
  0.9ASPCX Alger SpectraPairCorr
  0.9ASPZX Alger SpectraPairCorr
  0.9ASPYX Alger SpectraPairCorr
  0.9ASPIX Alger SpectraPairCorr
  0.92ASYMX Alger Weatherbie SpePairCorr
  0.91ABLOX Alger Balanced PortfolioPairCorr
  0.9ACAYX Alger Capital ApprecPairCorr
  0.9ACAZX Alger Capital ApprecPairCorr
  0.9ACARX Alger Capital ApprecPairCorr
  0.9ACAAX Alger Capital ApprecPairCorr
  0.9ATVPX Alger 35 FundPairCorr
  0.9ACIZX Alger Capital ApprecPairCorr
  0.92ADOCX Alger Dynamic OpportPairCorr
  0.92ADOZX Alger Dynamic OpportPairCorr
  0.89CNEIX Alger Concentrated EquityPairCorr
  0.89CNEYX Alger Concentrated EquityPairCorr
  0.89CNEZX Alger Concentrated EquityPairCorr
  0.95AFGIX Alger Global GrowthPairCorr
  0.92AFOIX Alger Mid CapPairCorr

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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