Alger Mid Cap Fund Market Value
| AMGOX Fund | USD 18.70 0.11 0.59% |
| Symbol | Alger |
Alger Mid '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 Mid'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 Mid.
| 03/16/2024 |
| 04/15/2024 |
If you would invest 0.00 in Alger Mid on March 16, 2024 and sell it all today you would earn a total of 0.00 from holding Alger Mid Cap or generate 0.0% return on investment in Alger Mid over 30 days. Alger Mid is related to or competes with Alger Small, Alger Small, Alger Small, Alger Global, Alger Global, Alger Emerging, and Alger Large. The advisor focuses on mid-sized companies that the advisor believes demonstrate promising growth potential More
Alger Mid 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 Mid'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 Mid Cap upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.951 | |||
| Information Ratio | 0.1209 | |||
| Maximum Drawdown | 4.22 | |||
| Value At Risk | (1.43) | |||
| Potential Upside | 1.53 |
Alger Mid Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alger Mid's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alger Mid's standard deviation. In reality, there are many statistical measures that can use Alger Mid historical prices to predict the future Alger Mid's volatility.| Risk Adjusted Performance | 0.1299 | |||
| Jensen Alpha | 0.1042 | |||
| Total Risk Alpha | 0.0783 | |||
| Sortino Ratio | 0.119 | |||
| Treynor Ratio | 0.1603 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alger Mid'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 Mid Cap Backtested Returns
We consider Alger Mid very steady. Alger Mid Cap secures Sharpe Ratio (or Efficiency) of 0.2, which signifies that the fund had a 0.2% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Alger Mid Cap, which you can use to evaluate the volatility of the entity. Please confirm Alger Mid's mean deviation of 0.7387, and Risk Adjusted Performance of 0.1299 to double-check if the risk estimate we provide is consistent with the expected return of 0.19%. The fund shows a Beta (market volatility) of 1.13, which signifies a somewhat significant risk relative to the market. Alger Mid returns are very sensitive to returns on the market. As the market goes up or down, Alger Mid is expected to follow.
Auto-correlation | -0.26 |
Weak reverse predictability
Alger Mid Cap has weak reverse predictability. Overlapping area represents the amount of predictability between Alger Mid time series from 16th of March 2024 to 31st of March 2024 and 31st of March 2024 to 15th of April 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 Mid Cap price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Alger Mid price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Alger Mid Cap lagged returns against current returns
Autocorrelation, which is Alger Mid 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 Mid's mutual fund expected returns. We can calculate the autocorrelation of Alger Mid returns to help us make a trade decision. For example, suppose you find that Alger Mid 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 Mid 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 Mid mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alger Mid 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 Mid mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Alger Mid Lagged Returns
When evaluating Alger Mid's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alger Mid mutual fund have on its future price. Alger Mid 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 Mid autocorrelation shows the relationship between Alger Mid mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Alger Mid Cap.
Regressed Prices |
| Timeline |
Pair Trading with Alger Mid
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Alger Mid position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Alger Mid will appreciate offsetting losses from the drop in the long position's value.Moving together with Alger Mutual Fund
| 1.0 | AMGAX | Alger Midcap Growth | PairCorr |
| 1.0 | AMGCX | Alger Midcap Growth | PairCorr |
| 0.94 | AOFAX | Alger Small Cap | PairCorr |
| 0.94 | AOFCX | Alger Small Cap | PairCorr |
The ability to find closely correlated positions to Alger Mid could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alger Mid when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Alger Mid - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Alger Mid Cap to buy it.
The correlation of Alger Mid 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alger Mid moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alger Mid Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Alger Mid can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Alger Mid Correlation, Alger Mid Volatility and Alger Mid Alpha and Beta module to complement your research on Alger Mid. You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Alger Mid technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.