Alger Small Correlations

AASOX Fund

USD 17.91 0.63 3.40%

The current 90-days correlation between Alger Small Cap and Fkorqx is -0.09 (i.e., Good 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 poor diversification

The correlation between Alger Small Cap and DJI is 0.83 (i.e., Very poor 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 board of governors.

Moving together with Alger Mutual Fund

0.84	AMGAX	Alger Midcap Growth	Pair Corr
0.91	AMGCX	Alger Midcap Growth	Pair Corr
0.91	AMGOX	Alger Mid Cap	Pair Corr
0.96	AOFYX	Alger Small Cap	Pair Corr
0.96	AOFIX	Alger Small Cap	Pair Corr
0.89	AOFAX	Alger Small Cap	Pair Corr
0.96	AOFCX	Alger Small Cap	Pair Corr
0.8	CHUSX	Alger Global Growth	Pair Corr
0.79	CHUCX	Alger Global Growth	Pair Corr
0.63	AAEMX	Alger Emerging Markets	Pair Corr
0.79	AAGOX	Alger Large Cap	Pair Corr
0.74	AAICX	Alger Ai Enablers	Pair Corr
0.74	AAIZX	Alger Ai Enablers	Pair Corr
0.99	ASCYX	Alger Funds	Pair Corr
0.99	ASCZX	Alger Smallcap Growth	Pair Corr
0.98	ASIRX	Alger Smallcap Growth	Pair Corr
0.96	ASIMX	Alger Smidcap Focus	Pair Corr
0.96	ASMZX	Alger Smidcap Focus	Pair Corr
0.78	ASPCX	Alger Spectra	Pair Corr
0.78	ASPZX	Alger Spectra	Pair Corr
0.78	ASPYX	Alger Spectra	Pair Corr
0.96	ASYMX	Alger Weatherbie Spe	Pair Corr
0.76	ABLOX	Alger Balanced Portfolio	Pair Corr
0.8	ACAYX	Alger Capital Apprec	Pair Corr
0.78	ACAZX	Alger Capital Apprec	Pair Corr
0.79	ACARX	Alger Capital Apprec	Pair Corr
0.74	ACAAX	Alger Capital Apprec	Pair Corr
0.75	ATVPX	Alger 35 Fund	Pair Corr
0.62	ACEMX	Alger Emerging Markets	Pair Corr
0.8	ACIZX	Alger Capital Apprec	Pair Corr
0.76	CNEYX	Alger Concentrated Equity	Pair Corr
0.76	CNEZX	Alger Concentrated Equity	Pair Corr
0.8	AFGZX	Alger Global Growth	Pair Corr
0.73	AFGPX	Alger International	Pair Corr

Moving against Alger Mutual Fund

0.5

CNEIX

Alger Concentrated Equity

Pair Corr

Related Correlations Analysis

	FANISX	FBANJX	OPTCX	TWBIX	XMHFX	LMUSX	VOLMX	FKORQX
FANISX		-0.59	-0.64	-0.3	0.28	-0.58	-0.54	0.57	FANISX
FBANJX	-0.59		0.94	0.88	-0.42	0.9	0.96	-0.77	FBANJX
OPTCX	-0.64	0.94		0.79	-0.58	0.93	0.95	-0.71	OPTCX
TWBIX	-0.3	0.88	0.79		-0.47	0.81	0.84	-0.46	TWBIX
XMHFX	0.28	-0.42	-0.58	-0.47		-0.52	-0.43	0.11	XMHFX
LMUSX	-0.58	0.9	0.93	0.81	-0.52		0.9	-0.59	LMUSX
VOLMX	-0.54	0.96	0.95	0.84	-0.43	0.9		-0.73	VOLMX
FKORQX	0.57	-0.77	-0.71	-0.46	0.11	-0.59	-0.73		FKORQX
	FANISX	FBANJX	OPTCX	TWBIX	XMHFX	LMUSX	VOLMX	FKORQX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VOLMX	+ 0.96	FBANJX
VOLMX	+ 0.95	OPTCX
OPTCX	+ 0.94	FBANJX
LMUSX	+ 0.93	OPTCX
LMUSX	+ 0.9	FBANJX
VOLMX	+ 0.9	LMUSX

High negative correlations

FKORQX	- 0.77	FBANJX
FKORQX	- 0.73	VOLMX
FKORQX	- 0.71	OPTCX
OPTCX	- 0.64	FANISX
FKORQX	- 0.59	LMUSX
FBANJX	- 0.59	FANISX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FANISX	0.20	(0.03)	0.00	(0.30)	0.00	0.00	0.33	(0.43)	1.23
FBANJX	0.43	0.00	(0.03)	0.06	0.53	(0.47)	0.95	(1.05)	2.55
OPTCX	0.13	0.01	(0.19)	0.09	0.00	(0.20)	0.30	(0.20)	1.00
TWBIX	0.33	(0.03)	(0.11)	(0.01)	0.48	(0.32)	0.71	(0.75)	2.41
XMHFX	0.09	(0.02)	0.00	0.45	0.00	0.00	0.14	(0.29)	0.72
LMUSX	0.61	0.03	0.01	0.09	0.76	(0.62)	1.14	(1.35)	4.94
VOLMX	0.54	0.02	0.01	0.08	0.60	(0.60)	1.30	(0.92)	3.45
FKORQX	0.06	(0.04)	0.00	1.88	0.00	0.00	0.03	(0.02)	2.22

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