Alger Smallcap Correlations

Mutual Funds USA . 
Fund . Alger Smallcap Growth
ASCZX Fund  USD 12.02  0.16  1.35%   
The current 90-days correlation between Alger Smallcap Growth and Alger Emerging Markets is -0.06 (i.e., Good 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 weak diversification

The correlation between Alger Smallcap Growth and DJI is 0.54 (i.e., Very 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.
  
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

  0.87AMGAX Alger Midcap GrowthPairCorr
  0.85AMGCX Alger Midcap GrowthPairCorr
  0.94AMGOX Alger Mid CapPairCorr
  0.96AOFYX Alger Small CapPairCorr
  0.96AOFIX Alger Small CapPairCorr
  0.88AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.66AAGOX Alger Large CapPairCorr
  0.76AAICX Alger Ai EnablersPairCorr
  0.72AAIZX Alger Ai EnablersPairCorr
  0.74AAIYX Alger Mid CapPairCorr
  1.0ASCYX Alger FundsPairCorr
  0.99AASOX Alger Small CapPairCorr
  0.94ASIRX Alger Smallcap GrowthPairCorr
  0.93ASIMX Alger Smidcap FocusPairCorr
  0.93ASMZX Alger Smidcap FocusPairCorr
  0.67ASPCX Alger SpectraPairCorr
  0.73ASPZX Alger SpectraPairCorr
  0.73ASPYX Alger SpectraPairCorr
  0.64ASPIX Alger SpectraPairCorr
  0.93ASYMX Alger Weatherbie SpePairCorr
  0.74ACAYX Alger Capital ApprecPairCorr
  0.68ACAZX Alger Capital ApprecPairCorr
  0.67ACARX Alger Capital ApprecPairCorr
  0.61ACAAX Alger Capital ApprecPairCorr
  0.74ACIZX Alger Capital ApprecPairCorr
  0.67CNEYX Alger Concentrated EquityPairCorr
  0.67CNEZX Alger Concentrated EquityPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMGAX  0.95  0.05 (0.05)(0.22) 1.19 
(0.96)
 1.73 
(2.02)
 5.86 
AMGCX  0.95  0.04 (0.05)(0.23) 1.20 
(1.02)
 1.71 
(2.05)
 5.89 
AMGOX  0.97 (0.05)(0.03) 0.05  1.16 
(1.04)
 1.74 
(2.02)
 5.96 
AOFYX  1.26  0.03  0.03  0.12  1.53 
(1.25)
 2.42 
(2.43)
 7.95 
AOFIX  1.26  0.03  0.03  0.12  1.53 
(1.24)
 2.43 
(2.39)
 7.98 
AOFAX  1.27  0.14  0.03  2.17  1.52 
(1.25)
 2.42 
(2.31)
 7.97 
AOFCX  1.27  0.03  0.03  0.12  1.54 
(1.25)
 2.44 
(2.41)
 8.00 
CHUSX  0.96  0.26  0.13 (1.86) 0.87 
(1.07)
 2.00 
(2.04)
 10.13 
CHUCX  0.97  0.23  0.17  0.38  0.80 
(1.10)
 2.00 
(2.03)
 11.79 
AAEMX  0.70  0.21  0.12 (2.18) 0.58 
(0.80)
 1.90 
(1.32)
 3.83 

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