Alger Smidcap Correlations

Mutual Funds . USA . 
Fund . Alger Smidcap Focus
ASIMX Fund  USD 15.09  0.22  1.48%   
The current 90-days correlation between Alger Smidcap Focus and Alger Midcap Growth is 0.84 (i.e., Very poor diversification). The correlation of Alger Smidcap 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 Smidcap Correlation With Market

Very poor diversification

The correlation between Alger Smidcap Focus and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smidcap Focus 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 Smidcap Focus. 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 population.

Moving together with Alger Mutual Fund

  0.84AMGAX Alger Midcap GrowthPairCorr
  0.84AMGCX Alger Midcap GrowthPairCorr
  0.84AMGOX Alger Mid CapPairCorr
  0.93AOFYX Alger Small CapPairCorr
  0.92AOFIX Alger Small CapPairCorr
  0.92AOFAX Alger Small CapPairCorr
  0.93AOFCX Alger Small CapPairCorr
  0.83CHUSX Alger Global GrowthPairCorr
  0.83CHUCX Alger Global GrowthPairCorr
  0.81AAGOX Alger Large CapPairCorr
  0.77AAICX Alger Ai EnablersPairCorr
  0.79AAIZX Alger Ai EnablersPairCorr
  0.76AAIYX Alger Mid CapPairCorr
  0.89ASCYX Alger FundsPairCorr
  0.89ASCZX Alger Smallcap GrowthPairCorr
  0.87AASOX Alger Small CapPairCorr
  0.89ASIRX Alger Smallcap GrowthPairCorr
  1.0ASMZX Alger Smidcap FocusPairCorr
  0.8ASPCX Alger SpectraPairCorr
  0.8ASPZX Alger SpectraPairCorr
  0.8ASPYX Alger SpectraPairCorr
  0.8ASPIX Alger SpectraPairCorr
  1.0ASYMX Alger Weatherbie SpePairCorr
  0.7ABLOX Alger Balanced PortfolioPairCorr
  0.8ACAYX Alger Capital ApprecPairCorr
  0.8ACAZX Alger Capital ApprecPairCorr
  0.8ACARX Alger Capital ApprecPairCorr
  0.8ACAAX Alger Capital ApprecPairCorr
  0.78ATVPX Alger 35 FundPairCorr
  0.8ACIZX Alger Capital ApprecPairCorr
  0.9ADOCX Alger Dynamic OpportPairCorr
  0.9ADOZX Alger Dynamic OpportPairCorr
  0.77CNEIX Alger Concentrated EquityPairCorr
  0.77CNEYX Alger Concentrated EquityPairCorr
  0.77CNEZX Alger Concentrated EquityPairCorr
  0.83AFGZX Alger Global GrowthPairCorr

Moving against Alger Mutual Fund

  0.37AFGPX Alger InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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