Alger Small Correlations

AOFIX Fund

USD 22.07 0.41 1.89%

The current 90-days correlation between Alger Small Cap and Ab Small Cap is 0.45 (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

Very weak diversification

The correlation between Alger Small Cap and DJI is 0.59 (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 gross domestic product.

Moving together with Alger Mutual Fund

1.0	AOFYX	Alger Small Cap	Pair Corr
0.99	AOFAX	Alger Small Cap	Pair Corr
1.0	AOFCX	Alger Small Cap	Pair Corr
0.94	ASCYX	Alger Funds	Pair Corr
0.94	ASCZX	Alger Smallcap Growth	Pair Corr
0.91	AASOX	Alger Small Cap	Pair Corr
0.76	ASIRX	Alger Smallcap Growth	Pair Corr
0.72	ASIMX	Alger Smidcap Focus	Pair Corr
0.71	ASMZX	Alger Smidcap Focus	Pair Corr
0.62	ASPIX	Alger Spectra	Pair Corr
0.71	ASYMX	Alger Weatherbie Spe	Pair Corr
0.63	ADOZX	Alger Dynamic Opport	Pair Corr

Related Correlations Analysis

	SCYVX	MMSCX	HSCVX	SECAX	BOSVX
SCYVX		0.92	0.86	0.87	0.9	SCYVX
MMSCX	0.92		0.78	0.93	0.94	MMSCX
HSCVX	0.86	0.78		0.81	0.89	HSCVX
SECAX	0.87	0.93	0.81		0.93	SECAX
BOSVX	0.9	0.94	0.89	0.93		BOSVX
	SCYVX	MMSCX	HSCVX	SECAX	BOSVX

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
SCYVX	0.79	(0.01)	0.00	0.05	1.06	(0.83)	2.27	(1.91)	4.47
MMSCX	0.98	0.10	0.10	0.14	0.94	(1.09)	1.95	(1.77)	10.10
HSCVX	0.68	0.00	0.00	0.06	0.85	(0.75)	1.51	(1.31)	3.86
SECAX	1.06	0.12	0.11	0.15	0.98	(1.20)	2.40	(1.72)	10.96
BOSVX	0.96	0.15	0.13	0.20	0.80	(1.13)	2.20	(1.44)	8.85

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Alger Small Correlations

Alger Small Correlation With Market

Very weak diversification

Moving together with Alger Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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