Fred Alger Correlations

AWEG Etf

22.56 0.00 0.00%

The current 90-days correlation between Fred Alger Management and Advisors Series Trust is -0.1 (i.e., Good diversification). The correlation of Fred Alger 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.

Fred Alger Correlation With Market

Poor diversification

The correlation between Fred Alger Management and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fred Alger Management and DJI in the same portfolio, assuming nothing else is changed.

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Moving together with Fred Etf

0.73	IJK	iShares SP Mid	Pair Corr
0.64	KOMP	SPDR Kensho New	Pair Corr
0.73	MDYG	SPDR SP 400	Pair Corr
0.76	ARKQ	ARK Autonomous Technology	Pair Corr
0.73	WSML	iShares MSCI World	Pair Corr
0.72	PULS	PGIM Ultra Short	Pair Corr
0.71	CPSR	Calamos SP 500	Pair Corr
0.75	RCGE	RockCreek Global Equality	Pair Corr
0.73	DXIV	Dimensional ETF Trust	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.62	DIS	Walt Disney Earnings Call Today	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.63	GE	GE Aerospace	Pair Corr

Moving against Fred Etf

0.85	SWIN	Alps Symbol Change	Pair Corr
0.56	MPAY	Exchange Traded Concepts	Pair Corr
0.5	JEM	707 Cayman Holdings	Pair Corr
0.33	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.53	T	ATT Inc Earnings Call This Week	Pair Corr
0.44	MMM	3M Company	Pair Corr
0.33	IBM	International Business Tech Boost	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	-0.03	0.2	0.05	-0.35	0.25	0.14	0.04	0.16	META
MSFT	0.16		0.74	-0.55	0.28	0.35	0.44	-0.02	-0.8	-0.72	MSFT
UBER	-0.03	0.74		-0.48	0.33	0.52	0.1	-0.2	-0.8	-0.53	UBER
F	0.2	-0.55	-0.48		-0.52	-0.28	0.0	0.4	0.7	0.66	F
T	0.05	0.28	0.33	-0.52		0.46	-0.25	-0.27	-0.37	-0.38	T
A	-0.35	0.35	0.52	-0.28	0.46		-0.07	-0.06	-0.33	-0.56	A
CRM	0.25	0.44	0.1	0.0	-0.25	-0.07		0.69	-0.15	-0.5	CRM
JPM	0.14	-0.02	-0.2	0.4	-0.27	-0.06	0.69		0.29	-0.13	JPM
MRK	0.04	-0.8	-0.8	0.7	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.16	-0.72	-0.53	0.66	-0.38	-0.56	-0.5	-0.13	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UBER	+ 0.74	MSFT
MRK	+ 0.7	F
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
XOM	+ 0.66	F
A	+ 0.52	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.56	A
F	- 0.55	MSFT
XOM	- 0.53	UBER

Fred Alger Competition Risk-Adjusted Indicators

There is a big difference between Fred Etf performing well and Fred Alger ETF 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 Fred Alger'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
META	1.61	(0.08)	0.00	(0.04)	0.00	0.00	3.43	(2.72)	11.42
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.24	0.05	0.04	0.08	1.23	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.18)	0.00	(0.10)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

Fred Alger Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Fred Alger etf to make a market-neutral strategy. Peer analysis of Fred Alger could also be used in its relative valuation, which is a method of valuing Fred Alger by comparing valuation metrics with similar companies.

Franklin Dividend Growth Listed Funds Trust Putnam Investments Bitwise Funds Trust Xtrackers Green Infrastructure Series Portfolios Trust Pacer BlueStar Digital Shelton Equity Premium KraneShares 2x Long Advisors Series Trust American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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