Alger Ai Correlations

AIFAX Fund

13.58 0.17 1.27%

The current 90-days correlation between Alger Ai Enablers and Veea Inc is -0.07 (i.e., Good diversification). The correlation of Alger Ai 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 Ai Correlation With Market

Modest diversification

The correlation between Alger Ai Enablers and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Ai Enablers 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 Ai Enablers. 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

0.68	VVPR	VivoPower International	Pair Corr
0.73	WEBB	Web Global Holdings	Pair Corr
0.69	CETXP	Cemtrex Pref	Pair Corr
0.69	ZENA	ZenaTech	Pair Corr
0.9	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.64	LTCH	Latch Inc	Pair Corr

Moving against Alger Mutual Fund

0.83	WCT	Wellchange Holdings	Pair Corr
0.81	FOXX	Foxx Development Holdings Downward Rally	Pair Corr
0.8	EVOL	Evolving Systems	Pair Corr
0.77	DLPX	Delphax Technologies	Pair Corr
0.74	GETR	Getaround	Pair Corr
0.65	VHAI	VHAI	Pair Corr
0.63	ZPTAW	Zapata Computing Holdings	Pair Corr
0.63	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.6	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.56	SBIGW	SpringBig Holdings	Pair Corr
0.48	DZSI	DZS Inc	Pair Corr
0.38	VIDE	Video Display Earnings Call Tomorrow	Pair Corr
0.37	VEEA	Veea Inc Symbol Change	Pair Corr
0.36	XELA	Exela Technologies	Pair Corr
0.34	XELAP	Exela Technologies	Pair Corr
0.81	VEEAW	Veea Inc Symbol Change	Pair Corr
0.79	DASTY	Dassault Systemes	Pair Corr
0.76	PRST	Presto Automation	Pair Corr
0.74	PERL	Perla Group International	Pair Corr
0.74	PRKR	ParkerVision	Pair Corr
0.69	NXTP	Nextplay Technologies	Pair Corr
0.64	MINM	Minim Inc	Pair Corr
0.62	NOVA	Sunnova Energy Inter	Pair Corr
0.52	NLST	Netlist	Pair Corr
0.48	OMQS	Omniq Corp	Pair Corr
0.47	NMGC	NeoMagic	Pair Corr

Related Correlations Analysis

	VEEA	VVPR	EXOD	AMGAX	AMGCX	AMGOX	AOFYX	AOFIX	AOFAX	AOFCX
VEEA		0.08	0.2	-0.59	-0.65	-0.64	-0.59	-0.64	-0.6	-0.6	VEEA
VVPR	0.08		0.7	0.47	0.39	0.41	0.53	0.46	0.53	0.52	VVPR
EXOD	0.2	0.7		0.32	0.22	0.24	0.37	0.29	0.37	0.36	EXOD
AMGAX	-0.59	0.47	0.32		0.94	0.94	0.96	0.9	0.96	0.96	AMGAX
AMGCX	-0.65	0.39	0.22	0.94		1.0	0.91	0.95	0.91	0.92	AMGCX
AMGOX	-0.64	0.41	0.24	0.94	1.0		0.92	0.96	0.92	0.92	AMGOX
AOFYX	-0.59	0.53	0.37	0.96	0.91	0.92		0.94	1.0	1.0	AOFYX
AOFIX	-0.64	0.46	0.29	0.9	0.95	0.96	0.94		0.94	0.94	AOFIX
AOFAX	-0.6	0.53	0.37	0.96	0.91	0.92	1.0	0.94		1.0	AOFAX
AOFCX	-0.6	0.52	0.36	0.96	0.92	0.92	1.0	0.94	1.0		AOFCX
	VEEA	VVPR	EXOD	AMGAX	AMGCX	AMGOX	AOFYX	AOFIX	AOFAX	AOFCX

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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

AMGOX	+ 1.0	AMGCX
AOFAX	+ 1.0	AOFYX
AOFCX	+ 1.0	AOFYX
AOFCX	+ 1.0	AOFAX
AOFYX	+ 0.96	AMGAX
AOFAX	+ 0.96	AMGAX

High negative correlations

AMGCX	- 0.65	VEEA
AOFIX	- 0.64	VEEA
AMGOX	- 0.64	VEEA
AOFCX	- 0.6	VEEA
AOFAX	- 0.6	VEEA
AOFYX	- 0.59	VEEA

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Ai 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 Ai'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
VEEA	4.92	0.48	0.08	(0.29)	5.42	(5.53)	9.54	(9.65)	32.82
VVPR	6.33	0.84	0.09	(1.59)	8.16	(8.30)	14.58	(10.30)	112.34
EXOD	7.80	1.97	0.20	(1.39)	7.40	(11.25)	21.55	(16.54)	56.37
AMGAX	0.94	0.08	0.04	0.66	1.27	(0.97)	2.04	(1.88)	7.31
AMGCX	0.94	0.07	0.04	0.15	1.27	(1.00)	2.00	(1.89)	7.39
AMGOX	0.95	0.07	0.05	0.15	1.27	(0.99)	2.06	(1.87)	7.38
AOFYX	1.14	0.09	0.05	1.13	1.34	(1.18)	2.46	(2.21)	9.61
AOFIX	1.13	0.07	0.04	0.15	1.36	(1.15)	2.44	(2.21)	9.63
AOFAX	1.14	0.10	0.05	1.23	1.35	(1.18)	2.47	(2.19)	9.61
AOFCX	1.14	0.09	0.05	1.11	1.38	(1.18)	2.45	(2.18)	9.68

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