Alger Smallcap Correlations

Mutual Funds USA . 
Fund . Alger Smallcap Growth
ASCZX Fund  USD 12.76  0.07  0.55%   
The current 90-days correlation between Alger Smallcap Growth and Crafword Dividend Growth is 0.29 (i.e., Modest diversification). The correlation of Alger Smallcap 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 Smallcap Correlation With Market

Very poor diversification

The correlation between Alger Smallcap Growth and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smallcap Growth 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 Smallcap Growth. 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

  0.97AOFYX Alger Small CapPairCorr
  0.97AOFIX Alger Small CapPairCorr
  0.91AOFAX Alger Small CapPairCorr
  0.97AOFCX Alger Small CapPairCorr
  0.75AAGOX Alger Large CapPairCorr
  0.94ASMZX Alger Smidcap FocusPairCorr
  0.74ASPZX Alger SpectraPairCorr
  0.76ACAYX Alger Capital ApprecPairCorr
  0.76ACIZX Alger Capital ApprecPairCorr
  0.72CNEYX Alger Concentrated EquityPairCorr
  0.8AFGZX Alger Global GrowthPairCorr
  0.73AFGPX Alger InternationalPairCorr
  0.93AFOIX Alger Mid CapPairCorr
  0.86AGIZX Alger Growth IncomePairCorr
  0.97AGOZX Alger Small CapPairCorr
  0.62AHSCX Alger Health SciencesPairCorr
  0.62ALGRX Alger Capital ApprecPairCorr
  0.93ALMRX Alger Midcap GrowthPairCorr
  0.94ALSAX Alger Smallcap GrowthPairCorr
  0.99ALSRX Alger Smallcap GrowthPairCorr
  0.77ALZFX Alger Capital ApprecPairCorr
  0.97VSGAX Vanguard Small CapPairCorr
  0.96VSGIX Vanguard Small CapPairCorr
  0.97VISGX Vanguard Small CapPairCorr
  0.96VEXPX Vanguard ExplorerPairCorr
  0.96VEXRX Vanguard ExplorerPairCorr
  0.77JGMIX Janus TritonPairCorr
  0.76JGMRX Janus TritonPairCorr
  0.74JGMAX Janus TritonPairCorr
  0.75JGMCX Janus TritonPairCorr
  0.78JGMNX Janus TritonPairCorr
  0.75SMPSX Semiconductor UltrasectorPairCorr
  0.77SMPIX Semiconductor UltrasectorPairCorr
  0.82RSNRX Victory Global NaturalPairCorr
  0.84RSNYX Victory Global NaturalPairCorr
  0.64OSPPX Oppenheimer Steelpath MlpPairCorr
  0.64SPMPX Invesco Steelpath MlpPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between ALGER Mutual Fund performing well and Alger Smallcap 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 Smallcap'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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