Correlation Between Martin Currie and Alger ETF
Can any of the company-specific risk be diversified away by investing in both Martin Currie and Alger ETF at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Martin Currie and Alger ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Martin Currie Sustainable and The Alger ETF, you can compare the effects of market volatilities on Martin Currie and Alger ETF and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Martin Currie with a short position of Alger ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Martin Currie and Alger ETF.
Diversification Opportunities for Martin Currie and Alger ETF
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Martin and Alger is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Martin Currie Sustainable and The Alger ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alger ETF and Martin Currie is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Martin Currie Sustainable are associated (or correlated) with Alger ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alger ETF has no effect on the direction of Martin Currie i.e., Martin Currie and Alger ETF go up and down completely randomly.
Pair Corralation between Martin Currie and Alger ETF
Given the investment horizon of 90 days Martin Currie Sustainable is expected to under-perform the Alger ETF. But the etf apears to be less risky and, when comparing its historical volatility, Martin Currie Sustainable is 1.49 times less risky than Alger ETF. The etf trades about -0.05 of its potential returns per unit of risk. The The Alger ETF is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 3,723 in The Alger ETF on October 5, 2025 and sell it today you would lose (92.00) from holding The Alger ETF or give up 2.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Martin Currie Sustainable vs. The Alger ETF
Performance |
| Timeline |
| Martin Currie Sustainable |
| Alger ETF |
Martin Currie and Alger ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Martin Currie and Alger ETF
The main advantage of trading using opposite Martin Currie and Alger ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Martin Currie position performs unexpectedly, Alger ETF can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Alger ETF will offset losses from the drop in Alger ETF's long position.| Martin Currie vs. Nushares ETF Trust | Martin Currie vs. ZEGA Buy and | Martin Currie vs. Simplify Next Intangible | Martin Currie vs. Exchange Listed Funds |
| Alger ETF vs. Innovator Loup Frontier | Alger ETF vs. Level Four Large | Alger ETF vs. Northern Lights | Alger ETF vs. Amplify AI Powered |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |