Alger Large Correlations

Mutual Funds . USA . 
Fund . Alger Large Cap
AAGOX Fund  USD 107.30  0.30  0.28%   
The current 90-days correlation between Alger Large Cap and Scout E Bond is -0.02 (i.e., Good diversification). The correlation of Alger Large 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 Large Correlation With Market

Very weak diversification

The correlation between Alger Large Cap and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Large Cap 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 Large Cap. 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 metropolitan statistical area.

Moving together with Alger Mutual Fund

  0.96AMGAX Alger Midcap GrowthPairCorr
  0.96AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.88AOFYX Alger Small CapPairCorr
  0.85AOFIX Alger Small CapPairCorr
  0.85AOFAX Alger Small CapPairCorr
  0.88AOFCX Alger Small CapPairCorr
  0.91CHUSX Alger Global GrowthPairCorr
  0.93CHUCX Alger Global GrowthPairCorr
  0.85AAEMX Alger Emerging MarketsPairCorr
  1.0AAICX Alger Ai EnablersPairCorr
  0.98AAIZX Alger Ai EnablersPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.91ASCYX Alger FundsPairCorr
  0.9ASCZX Alger Smallcap GrowthPairCorr
  0.86AASOX Alger Small CapPairCorr
  0.9ASIRX Alger Smallcap GrowthPairCorr
  0.87ASIMX Alger Smidcap FocusPairCorr
  0.87ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.88ASYMX Alger Weatherbie SpePairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  0.97ACAAX Alger Capital ApprecPairCorr
  1.0ATVPX Alger 35 FundPairCorr
  0.86ACEMX Alger Emerging MarketsPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.86ADOCX Alger Dynamic OpportPairCorr
  0.87ADOZX Alger Dynamic OpportPairCorr
  0.98CNEIX Alger Concentrated EquityPairCorr
  0.98CNEYX Alger Concentrated EquityPairCorr
  0.98CNEZX Alger Concentrated EquityPairCorr
  0.94AFGZX Alger Global GrowthPairCorr
  0.82AFGPX Alger InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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