Alger Capital Correlations

ACARX Fund

USD 35.41 0.67 1.93%

The current 90-days correlation between Alger Capital Apprec and Payden Government Fund is -0.41 (i.e., Very good diversification). The correlation of Alger Capital 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 Capital Correlation With Market

Good diversification

The correlation between Alger Capital Appreciation and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Capital Appreciation 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 Capital Appreciation. 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

0.99	AMGAX	Alger Midcap Growth	Pair Corr
0.99	AMGCX	Alger Midcap Growth	Pair Corr
0.96	AMGOX	Alger Mid Cap	Pair Corr
0.94	AOFAX	Alger Small Cap	Pair Corr
0.94	AOFCX	Alger Small Cap	Pair Corr
0.98	CHUSX	Alger Global Growth	Pair Corr
1.0	AAIYX	Alger Mid Cap	Pair Corr
0.95	AASOX	Alger Small Cap	Pair Corr
0.95	ASMZX	Alger Smidcap Focus	Pair Corr
0.97	ASPZX	Alger Spectra	Pair Corr
0.97	ASPIX	Alger Spectra	Pair Corr
0.94	ABLOX	Alger Balanced Portfolio	Pair Corr
0.97	ACAZX	Alger Capital Apprec	Pair Corr
0.97	ACIZX	Alger Capital Apprec	Pair Corr
0.98	ADOCX	Alger Dynamic Opport	Pair Corr
0.96	ADOZX	Alger Dynamic Opport	Pair Corr
1.0	CNEIX	Alger Concentrated Equity	Pair Corr
1.0	CNEYX	Alger Concentrated Equity	Pair Corr
1.0	CNEZX	Alger Concentrated Equity	Pair Corr
0.97	AFOZX	Alger Funds Mid	Pair Corr
0.96	AGIRX	Alger Midcap Growth	Pair Corr
0.91	AGOZX	Alger Small Cap	Pair Corr
0.98	SPEDX	Alger Dynamic Opport	Pair Corr
0.97	ALARX	Alger Capital Apprec	Pair Corr
1.0	ALAFX	Alger Capital Apprec	Pair Corr
1.0	ALCFX	Alger Capital Apprec	Pair Corr
0.97	ALGRX	Alger Capital Apprec	Pair Corr
0.96	ALMRX	Alger Midcap Growth	Pair Corr
0.96	ALMZX	Alger Midcap Growth	Pair Corr
0.97	ALSAX	Alger Smallcap Growth	Pair Corr
0.94	ALSRX	Alger Smallcap Growth	Pair Corr
1.0	ALVOX	Alger Capital Apprec	Pair Corr
1.0	ALZFX	Alger Capital Apprec	Pair Corr
0.96	AMCZX	Alger Midcap Growth	Pair Corr
0.96	AMCGX	Alger Midcap Growth	Pair Corr
0.96	FAFGX	American Funds	Pair Corr
0.96	FFAFX	American Funds	Pair Corr

Moving against Alger Mutual Fund

0.36

XDSMX

Dreyfus Strategic

Pair Corr

Related Correlations Analysis

	PYUSX	SSAGX	CGTFX	RFBAX	ELMXX	RYAQX	UGSDX	PBMXX
PYUSX		0.82	0.56	0.9	0.58	0.17	0.78	0.54	PYUSX
SSAGX	0.82		0.27	0.89	0.71	0.52	0.94	0.75	SSAGX
CGTFX	0.56	0.27		0.41	0.02	-0.43	0.27	-0.1	CGTFX
RFBAX	0.9	0.89	0.41		0.73	0.27	0.78	0.72	RFBAX
ELMXX	0.58	0.71	0.02	0.73		0.67	0.58	0.94	ELMXX
RYAQX	0.17	0.52	-0.43	0.27	0.67		0.52	0.73	RYAQX
UGSDX	0.78	0.94	0.27	0.78	0.58	0.52		0.59	UGSDX
PBMXX	0.54	0.75	-0.1	0.72	0.94	0.73	0.59		PBMXX
	PYUSX	SSAGX	CGTFX	RFBAX	ELMXX	RYAQX	UGSDX	PBMXX

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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

UGSDX	+ 0.94	SSAGX
PBMXX	+ 0.94	ELMXX
RFBAX	+ 0.9	PYUSX
RFBAX	+ 0.89	SSAGX
SSAGX	+ 0.82	PYUSX
UGSDX	+ 0.78	PYUSX

High negative correlations

RYAQX	- 0.43	CGTFX
PBMXX	- 0.1	CGTFX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Capital 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 Capital'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
PYUSX	0.15	0.01	(0.13)	(1.30)	0.08	(0.20)	0.42	(0.32)	0.85
SSAGX	0.06	0.01	(0.30)	(1.94)	0.00	(0.17)	0.10	(0.10)	0.51
CGTFX	0.32	0.01	(0.07)	(0.20)	0.38	(0.33)	0.59	(0.67)	1.83
RFBAX	0.09	0.01	(0.17)	(0.96)	0.00	(0.24)	0.20	(0.20)	0.59
ELMXX	0.03	0.01	0.00	1.33	0.00	0.00	0.00	0.00	1.01
RYAQX	0.76	0.06	0.04	0.56	0.66	(0.97)	1.76	(1.18)	4.53
UGSDX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.52
PBMXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01

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