Alger Smidcap Correlations

Mutual Funds . USA . 
Fund . Alger Smidcap Focus
ASMZX Fund  USD 15.52  0.23  1.46%   
The current 90-days correlation between Alger Smidcap Focus and Cref Inflation Linked Bond is 0.1 (i.e., Average diversification). The correlation of Alger Smidcap 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 Smidcap Correlation With Market

Poor diversification

The correlation between Alger Smidcap Focus and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smidcap Focus 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 Smidcap Focus. 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

  0.85AMGAX Alger Midcap GrowthPairCorr
  0.85AMGCX Alger Midcap GrowthPairCorr
  0.62AMGOX Alger Mid CapPairCorr
  0.62AOFYX Alger Small CapPairCorr
  0.85AOFAX Alger Small CapPairCorr
  0.64CHUSX Alger Global GrowthPairCorr
  0.67CHUCX Alger Global GrowthPairCorr
  0.84AAEMX Alger Emerging MarketsPairCorr
  0.61AAIZX Alger Ai EnablersPairCorr
  0.86AAIYX Alger Mid CapPairCorr
  0.65ASCYX Alger FundsPairCorr
  0.64ASCZX Alger Smallcap GrowthPairCorr
  0.62AASOX Alger Small CapPairCorr
  0.64ASIRX Alger Smallcap GrowthPairCorr
  1.0ASIMX Alger Smidcap FocusPairCorr
  0.63ASPCX Alger SpectraPairCorr
  0.63ASPZX Alger SpectraPairCorr
  0.87ASPYX Alger SpectraPairCorr
  0.62ASPIX Alger SpectraPairCorr
  0.65ABLOX Alger Balanced PortfolioPairCorr
  0.63ACAYX Alger Capital ApprecPairCorr
  0.63ACAZX Alger Capital ApprecPairCorr
  0.86ACARX Alger Capital ApprecPairCorr
  0.62ACAAX Alger Capital ApprecPairCorr
  0.63ACIZX Alger Capital ApprecPairCorr
  0.86CNEYX Alger Concentrated EquityPairCorr
  0.61CNEZX Alger Concentrated EquityPairCorr
  0.89AFGZX Alger Global GrowthPairCorr
  0.81AFGPX Alger InternationalPairCorr
  0.62AFOIX Alger Mid CapPairCorr
  0.64AGFCX Alger ResponsiblePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Smidcap 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 Smidcap'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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