Alger ETF Correlations
ALAI Etf | 29.39 0.42 1.45% |
The current 90-days correlation between Alger ETF and iShares Dividend and is -0.05 (i.e., Good 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.
Alger ETF Correlation With Market
Good diversification
The correlation between The Alger ETF and DJI is -0.03 (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.
Moving together with Alger Etf
0.94 | VGT | Vanguard Information | PairCorr |
0.94 | XLK | Technology Select Sector | PairCorr |
0.94 | IYW | iShares Technology ETF | PairCorr |
0.92 | SMH | VanEck Semiconductor ETF Sell-off Trend | PairCorr |
0.87 | SOXX | iShares Semiconductor ETF | PairCorr |
0.94 | CIBR | First Trust NASDAQ | PairCorr |
0.94 | FTEC | Fidelity MSCI Information | PairCorr |
0.93 | IGV | iShares Expanded Tech Sell-off Trend | PairCorr |
0.94 | FDN | First Trust Dow | PairCorr |
0.94 | IGM | iShares Expanded Tech | PairCorr |
0.8 | ITWO | Proshares Russell 2000 Low Volatility | PairCorr |
0.91 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
0.91 | DIS | Walt Disney | PairCorr |
0.96 | AXP | American Express Sell-off Trend | PairCorr |
0.87 | CSCO | Cisco Systems | PairCorr |
0.62 | WMT | Walmart | PairCorr |
0.84 | TRV | The Travelers Companies | PairCorr |
0.93 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
0.91 | BA | Boeing | PairCorr |
0.89 | IBM | International Business | PairCorr |
0.9 | BAC | Bank of America | PairCorr |
Moving against Alger Etf
0.4 | MRK | Merck Company Aggressive Push | PairCorr |
Related Correlations Analysis
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
DIVB | 1.02 | 0.01 | 0.01 | 0.02 | 1.63 | 1.68 | 9.78 | |||
MCSE | 1.13 | 0.01 | 0.01 | 0.02 | 1.56 | 2.43 | 12.91 | |||
GK | 1.32 | 0.16 | 0.07 | 0.14 | 1.98 | 2.79 | 14.57 | |||
MJ | 2.19 | (0.17) | 0.00 | (0.16) | 0.00 | 4.18 | 15.05 | |||
METV | 1.66 | 0.21 | 0.09 | 0.16 | 2.28 | 3.34 | 16.08 | |||
DMAT | 1.56 | 0.08 | 0.03 | 0.08 | 2.52 | 2.27 | 15.71 | |||
DMCY | 0.91 | 0.09 | 0.06 | 0.12 | 1.39 | 1.97 | 9.30 | |||
DMXF | 0.96 | 0.10 | 0.06 | 0.12 | 1.50 | 1.80 | 10.83 | |||
MILN | 1.38 | 0.10 | 0.04 | 0.09 | 2.05 | 2.68 | 13.28 |