Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AOFAX Fund  USD 20.98  0.08  0.38%   
The current 90-days correlation between Alger Small Cap and M Large Cap is 0.76 (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

Very poor diversification

The correlation between Alger Small Cap and DJI is 0.8 (i.e., Very poor 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 nation.

Moving together with Alger Mutual Fund

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  1.0AOFYX Alger Small CapPairCorr
  1.0AOFIX Alger Small CapPairCorr
  1.0AOFCX Alger Small CapPairCorr
  0.93CHUSX Alger Global GrowthPairCorr
  0.92CHUCX Alger Global GrowthPairCorr
  0.95AAGOX Alger Large CapPairCorr
  0.94AAICX Alger Ai EnablersPairCorr
  0.94AAIZX Alger Ai EnablersPairCorr
  0.96ASCYX Alger FundsPairCorr
  0.96ASCZX Alger Smallcap GrowthPairCorr
  0.93AASOX Alger Small CapPairCorr
  0.95ASIRX Alger Smallcap GrowthPairCorr
  0.95ASIMX Alger Smidcap FocusPairCorr
  0.95ASMZX Alger Smidcap FocusPairCorr
  0.95ASPCX Alger SpectraPairCorr
  0.95ASPZX Alger SpectraPairCorr
  0.95ASPYX Alger SpectraPairCorr
  0.95ASPIX Alger SpectraPairCorr
  0.95ASYMX Alger Weatherbie SpePairCorr
  0.85ABLOX Alger Balanced PortfolioPairCorr
  0.95ACAYX Alger Capital ApprecPairCorr
  0.95ACAZX Alger Capital ApprecPairCorr
  0.95ACARX Alger Capital ApprecPairCorr
  0.95ACAAX Alger Capital ApprecPairCorr
  0.95ATVPX Alger 35 FundPairCorr
  0.95ACIZX Alger Capital ApprecPairCorr
  0.98ADOCX Alger Dynamic OpportPairCorr
  0.98ADOZX Alger Dynamic OpportPairCorr
  0.93CNEIX Alger Concentrated EquityPairCorr
  0.93CNEYX Alger Concentrated EquityPairCorr
  0.93CNEZX Alger Concentrated EquityPairCorr
  0.93AFGIX Alger Global GrowthPairCorr
  0.97AFOIX Alger Mid CapPairCorr

Moving against Alger Mutual Fund

  0.47AFGPX Alger InternationalPairCorr
  0.46AIGIX Alger InternationalPairCorr

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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