Alger Health Sciences Fund Market Value
| AHSCX Fund | USD 13.51 0.09 0.67% |
| Symbol | Alger |
Alger Health 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Alger Health's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Alger Health.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Alger Health on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Alger Health Sciences or generate 0.0% return on investment in Alger Health over 180 days. Alger Health is related to or competes with Touchstone Large, Quantitative, Knights Of, Goldman Sachs, Massmutual Select, William Blair, and Transamerica Large. The fund invests at least 80 percent of its net assets, plus any borrowings for investment purposes, in equity securitie... More
Alger Health Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Alger Health's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Alger Health Sciences upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 4.55 | |||
| Value At Risk | (1.25) | |||
| Potential Upside | 0.8203 |
Alger Health Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alger Health's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alger Health's standard deviation. In reality, there are many statistical measures that can use Alger Health historical prices to predict the future Alger Health's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alger Health's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Alger Health Sciences Backtested Returns
Alger Health Sciences secures Sharpe Ratio (or Efficiency) of -0.0136, which signifies that the fund had a -0.0136% return per unit of standard deviation over the last 3 months. Alger Health Sciences exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Alger Health's mean deviation of 0.565, and Risk Adjusted Performance of (0.02) to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.49, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Alger Health's returns are expected to increase less than the market. However, during the bear market, the loss of holding Alger Health is expected to be smaller as well.
Auto-correlation | -0.1 |
Very weak reverse predictability
Alger Health Sciences has very weak reverse predictability. Overlapping area represents the amount of predictability between Alger Health time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Alger Health Sciences price movement. The serial correlation of -0.1 indicates that less than 10.0% of current Alger Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Alger Health Sciences lagged returns against current returns
Autocorrelation, which is Alger Health mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Alger Health's mutual fund expected returns. We can calculate the autocorrelation of Alger Health returns to help us make a trade decision. For example, suppose you find that Alger Health has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Alger Health regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Alger Health mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alger Health mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alger Health mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Alger Health Lagged Returns
When evaluating Alger Health's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alger Health mutual fund have on its future price. Alger Health autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Alger Health autocorrelation shows the relationship between Alger Health mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Alger Health Sciences.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Alger Mutual Fund
Alger Health financial ratios help investors to determine whether Alger Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Alger with respect to the benefits of owning Alger Health security.
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