Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AOFIX Fund  USD 21.83  0.05  0.23%   
The current 90-days correlation between Alger Small Cap and Chartwell Short Duration is 0.03 (i.e., Significant 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

Good diversification

The correlation between Alger Small Cap and DJI is -0.15 (i.e., Good 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 gross domestic product.

Moving together with Alger Mutual Fund

  0.95AMGAX Alger Midcap GrowthPairCorr
  0.95AMGCX Alger Midcap GrowthPairCorr
  0.91AMGOX Alger Mid CapPairCorr
  0.96AOFYX Alger Small CapPairCorr
  1.0AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.7CHUSX Alger Global GrowthPairCorr
  0.93AAEMX Alger Emerging MarketsPairCorr
  0.93AAGOX Alger Large CapPairCorr
  0.96AAICX Alger Ai EnablersPairCorr
  0.96AAIZX Alger Ai EnablersPairCorr
  0.96AAIYX Alger Mid CapPairCorr
  0.94ASCYX Alger FundsPairCorr
  0.94ASCZX Alger Smallcap GrowthPairCorr
  0.93AASOX Alger Small CapPairCorr
  0.96ASIRX Alger Smallcap GrowthPairCorr
  0.92ASPCX Alger SpectraPairCorr
  0.92ASPZX Alger SpectraPairCorr
  0.92ASPYX Alger SpectraPairCorr
  0.92ASPIX Alger SpectraPairCorr
  0.93ABLOX Alger Balanced PortfolioPairCorr
  0.93ACAYX Alger Capital ApprecPairCorr
  0.92ACAZX Alger Capital ApprecPairCorr
  0.93ACARX Alger Capital ApprecPairCorr
  0.95ACAAX Alger Capital ApprecPairCorr
  0.93ATVPX Alger 35 FundPairCorr
  0.93ACEMX Alger Emerging MarketsPairCorr
  0.93ACIZX Alger Capital ApprecPairCorr
  0.75ADOCX Alger Dynamic OpportPairCorr
  0.69ADOZX Alger Dynamic OpportPairCorr
  0.95CNEIX Alger Concentrated EquityPairCorr
  0.95CNEYX Alger Concentrated EquityPairCorr
  0.95CNEZX Alger Concentrated EquityPairCorr
  0.67AFGPX Alger InternationalPairCorr

Related Correlations Analysis


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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