Alger ETF Correlations

The correlation of Alger ETF 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.

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Moving together with Alger Etf

0.77	VOT	Vanguard Mid Cap	Pair Corr
0.79	IWP	iShares Russell Mid	Pair Corr
0.81	ARKK	ARK Innovation ETF	Pair Corr
0.8	IJK	iShares SP Mid	Pair Corr
0.74	JKH	iShares Morningstar Mid	Pair Corr
0.8	KOMP	SPDR Kensho New	Pair Corr
0.8	MDYG	SPDR SP 400	Pair Corr
0.77	IMCG	iShares Morningstar Mid	Pair Corr
0.75	FPX	First Trust Equity	Pair Corr
0.8	IVOG	Vanguard SP Mid	Pair Corr
0.66	NVDL	GraniteShares 15x Long	Pair Corr
0.66	NVDX	T Rex 2X	Pair Corr
0.66	NVDU	Direxion Daily NVDA	Pair Corr
0.79	BITX	Volatility Shares Trust Upward Rally	Pair Corr
0.81	CONL	GraniteShares ETF Trust Upward Rally	Pair Corr
0.79	CRPT	First Trust SkyBridge	Pair Corr
0.78	DAPP	VanEck Digital Trans	Pair Corr
0.83	DPST	Direxion Daily Regional	Pair Corr
0.67	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.78	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.77	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against Alger Etf

0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.7	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.69	KO	Coca Cola Sell-off Trend	Pair Corr
0.62	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.32	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		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

JPM	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

Alger ETF Competition Risk-Adjusted Indicators

There is a big difference between Alger Etf performing well and Alger ETF 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 Alger ETF'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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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Alger ETF Correlations

Moving together with Alger Etf

Moving against Alger Etf

Related Correlations Analysis

Correlation Matchups

Alger ETF Competition Risk-Adjusted Indicators

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