Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AGOZX Fund  USD 19.89  0.08  0.40%   
The current 90-days correlation between Alger Small Cap and Mondrian Emerging Markets is -0.15 (i.e., Good 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 0.89 (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

  0.94AMGAX Alger Midcap GrowthPairCorr
  0.94AMGCX Alger Midcap GrowthPairCorr
  0.97AMGOX Alger Mid CapPairCorr
  0.94AOFYX Alger Small CapPairCorr
  0.93AOFAX Alger Small CapPairCorr
  0.93AOFCX Alger Small CapPairCorr
  0.92CHUSX Alger Global GrowthPairCorr
  0.96CHUCX Alger Global GrowthPairCorr
  0.92AAEMX Alger Emerging MarketsPairCorr
  0.96AAGOX Alger Large CapPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.99AASOX Alger Small CapPairCorr
  0.93ASIRX Alger Smallcap GrowthPairCorr
  0.96ASIMX Alger Smidcap FocusPairCorr
  0.96ASMZX Alger Smidcap FocusPairCorr
  0.96ASPCX Alger SpectraPairCorr
  0.96ASPZX Alger SpectraPairCorr
  0.96ASPYX Alger SpectraPairCorr
  0.96ASPIX Alger SpectraPairCorr
  0.9ASYMX Alger Weatherbie SpePairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  0.96ACAYX Alger Capital ApprecPairCorr
  0.96ACAZX Alger Capital ApprecPairCorr
  0.93ACARX Alger Capital ApprecPairCorr
  0.93ACAAX Alger Capital ApprecPairCorr
  0.95ATVPX Alger 35 FundPairCorr
  0.96ACIZX Alger Capital ApprecPairCorr
  0.91ADOCX Alger Dynamic OpportPairCorr
  0.91ADOZX Alger Dynamic OpportPairCorr
  0.96CNEIX Alger Concentrated EquityPairCorr
  0.93CNEYX Alger Concentrated EquityPairCorr
  0.93CNEZX Alger Concentrated EquityPairCorr
  0.96AFGZX Alger Global GrowthPairCorr
  0.94AFOZX Alger Funds MidPairCorr
  0.96AGFCX Alger ResponsiblePairCorr
  0.98AGIZX Alger Growth IncomePairCorr
  0.96AGIFX Alger ResponsiblePairCorr

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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