Alger Smallcap Correlations
| ASCZX Fund | USD 11.57 0.13 1.14% |
The current 90-days correlation between Alger Smallcap Growth and Blrc Sgy Mnp is 0.09 (i.e., Significant 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
Weak diversification
The correlation between Alger Smallcap Growth and DJI is 0.39 (i.e., Weak 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.
Alger |
Moving together with Alger Mutual Fund
| 0.81 | AMGAX | Alger Midcap Growth | PairCorr |
| 0.9 | AMGCX | Alger Midcap Growth | PairCorr |
| 0.88 | AMGOX | Alger Mid Cap | PairCorr |
| 0.9 | AOFYX | Alger Small Cap | PairCorr |
| 0.9 | AOFIX | Alger Small Cap | PairCorr |
| 0.9 | AOFAX | Alger Small Cap | PairCorr |
| 0.91 | AOFCX | Alger Small Cap | PairCorr |
| 1.0 | ASCYX | Alger Funds | PairCorr |
| 0.99 | AASOX | Alger Small Cap | PairCorr |
| 0.98 | ASIRX | Alger Smallcap Growth | PairCorr |
| 0.84 | ASIMX | Alger Smidcap Focus | PairCorr |
| 0.84 | ASMZX | Alger Smidcap Focus | PairCorr |
| 0.8 | ASPCX | Alger Spectra | PairCorr |
| 0.86 | ASPZX | Alger Spectra | PairCorr |
| 0.86 | ASPYX | Alger Spectra | PairCorr |
| 0.87 | ASPIX | Alger Spectra | PairCorr |
| 0.75 | ASYMX | Alger Weatherbie Spe | PairCorr |
| 0.61 | ABLOX | Alger Balanced Portfolio | PairCorr |
| 0.75 | ACAYX | Alger Capital Apprec | PairCorr |
| 0.81 | ACAZX | Alger Capital Apprec | PairCorr |
| 0.67 | ACARX | Alger Capital Apprec | PairCorr |
| 0.78 | ACAAX | Alger Capital Apprec | PairCorr |
| 0.79 | ACIZX | Alger Capital Apprec | PairCorr |
Related Correlations Analysis
| 0.64 | 0.8 | 0.86 | 0.46 | 0.46 | MDMTX | ||
| 0.64 | 0.47 | 0.63 | 0.25 | 0.73 | ABNCX | ||
| 0.8 | 0.47 | 0.77 | 0.75 | 0.47 | MBSAX | ||
| 0.86 | 0.63 | 0.77 | 0.44 | 0.47 | ANAGX | ||
| 0.46 | 0.25 | 0.75 | 0.44 | 0.58 | ARTFX | ||
| 0.46 | 0.73 | 0.47 | 0.47 | 0.58 | PRVBX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MDMTX | 0.19 | 0.00 | (0.20) | 0.06 | 0.25 | 0.48 | 1.72 | |||
| ABNCX | 0.14 | (0.01) | (0.48) | (0.21) | 0.16 | 0.20 | 0.70 | |||
| MBSAX | 0.20 | 0.01 | (0.25) | 1.06 | 0.21 | 0.52 | 1.55 | |||
| ANAGX | 0.17 | (0.01) | (0.41) | (0.63) | 0.16 | 0.44 | 1.16 | |||
| ARTFX | 0.11 | 0.02 | (0.31) | (11.49) | 0.00 | 0.44 | 1.10 | |||
| PRVBX | 0.10 | (0.01) | (0.80) | (0.04) | 0.05 | 0.25 | 0.58 |