Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AASOX Fund  USD 18.95  0.31  1.66%   
The current 90-days correlation between Alger Small Cap and T Rowe Price is 0.05 (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

Very weak diversification

The correlation between Alger Small Cap and DJI is 0.43 (i.e., Very weak 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 metropolitan statistical area.

Moving together with Alger Mutual Fund

  0.86AMGAX Alger Midcap GrowthPairCorr
  0.84AMGCX Alger Midcap GrowthPairCorr
  0.94AMGOX Alger Mid CapPairCorr
  0.94AOFYX Alger Small CapPairCorr
  0.94AOFIX Alger Small CapPairCorr
  0.84AOFAX Alger Small CapPairCorr
  0.94AOFCX Alger Small CapPairCorr
  0.63AAGOX Alger Large CapPairCorr
  0.73AAICX Alger Ai EnablersPairCorr
  0.73AAIZX Alger Ai EnablersPairCorr
  0.74ASCYX Alger FundsPairCorr
  0.88ASIRX Alger Smallcap GrowthPairCorr
  0.83ASIMX Alger Smidcap FocusPairCorr
  0.66ASPCX Alger SpectraPairCorr
  0.75ASPZX Alger SpectraPairCorr
  0.7ASPYX Alger SpectraPairCorr
  0.83ASYMX Alger Weatherbie SpePairCorr
  0.71ACAYX Alger Capital ApprecPairCorr
  0.67ACAZX Alger Capital ApprecPairCorr
  0.66ACARX Alger Capital ApprecPairCorr
  0.71ACIZX Alger Capital ApprecPairCorr
  0.65CNEYX Alger Concentrated EquityPairCorr
  0.96AFOIX Alger Mid CapPairCorr

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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