Alger Small Correlations

Mutual Funds . USA . 
Fund . Alger Small Cap
AOFIX Fund  USD 22.56  0.19  0.85%   
The current 90-days correlation between Alger Small Cap and Intal High Relative is 0.56 (i.e., Very weak 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

Poor diversification

The correlation between Alger Small Cap and DJI is 0.63 (i.e., 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 gross domestic product.

Moving together with ALGER Mutual Fund

  0.79AMGAX Alger Midcap GrowthPairCorr
  0.77AMGCX Alger Midcap GrowthPairCorr
  0.88AMGOX Alger Mid CapPairCorr
  1.0AOFYX Alger Small CapPairCorr
  0.91AOFAX Alger Small CapPairCorr
  1.0AOFCX Alger Small CapPairCorr
  0.63CHUSX Alger Global GrowthPairCorr
  0.64CHUCX Alger Global GrowthPairCorr
  0.69AAGOX Alger Large CapPairCorr
  0.67AAICX Alger Ai EnablersPairCorr
  0.68AAIZX Alger Ai EnablersPairCorr
  0.62AAIYX Alger Mid CapPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.98ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.92ASIRX Alger Smallcap GrowthPairCorr
  0.92ASIMX Alger Smidcap FocusPairCorr
  0.92ASMZX Alger Smidcap FocusPairCorr
  0.67ASPCX Alger SpectraPairCorr
  0.7ASPZX Alger SpectraPairCorr
  0.7ASPYX Alger SpectraPairCorr
  0.92ASYMX Alger Weatherbie SpePairCorr
  0.71ACAYX Alger Capital ApprecPairCorr
  0.67ACAZX Alger Capital ApprecPairCorr
  0.68ACARX Alger Capital ApprecPairCorr
  0.71ACIZX Alger Capital ApprecPairCorr
  0.66CNEYX Alger Concentrated EquityPairCorr
  0.66CNEZX Alger Concentrated EquityPairCorr
  0.66AFGZX Alger Global GrowthPairCorr

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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