Alger Capital Correlations

ACAYX Fund

USD 56.44 1.19 2.15%

The current 90-days correlation between Alger Capital Apprec and Columbia Convertible Securities is 0.07 (i.e., Significant 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

Significant diversification

The correlation between Alger Capital Appreciation and DJI is 0.03 (i.e., Significant 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 private.

Moving together with Alger Mutual Fund

0.67	CHUSX	Alger Global Growth	Pair Corr
0.66	CHUCX	Alger Global Growth	Pair Corr
0.94	AAGOX	Alger Large Cap	Pair Corr
0.96	AAICX	Alger Ai Enablers	Pair Corr
0.96	AAIZX	Alger Ai Enablers	Pair Corr
0.96	AAIYX	Alger Mid Cap	Pair Corr
0.76	ASPCX	Alger Spectra	Pair Corr
0.77	ASPZX	Alger Spectra	Pair Corr
0.99	ASPYX	Alger Spectra	Pair Corr
0.77	ASPIX	Alger Spectra	Pair Corr
0.99	ACAZX	Alger Capital Apprec	Pair Corr
0.75	ACARX	Alger Capital Apprec	Pair Corr
0.71	ATVPX	Alger 35 Fund	Pair Corr
1.0	ACIZX	Alger Capital Apprec	Pair Corr
0.67	ADOZX	Alger Dynamic Opport	Pair Corr
0.76	CNEZX	Alger Concentrated Equity	Pair Corr
0.67	AFGIX	Alger Global Growth	Pair Corr

Related Correlations Analysis

	NCIDX	CCD	ARBOX	XNCVX	VAADX
NCIDX		0.83	0.35	0.94	0.82	NCIDX
CCD	0.83		0.33	0.84	0.81	CCD
ARBOX	0.35	0.33		0.42	0.53	ARBOX
XNCVX	0.94	0.84	0.42		0.76	XNCVX
VAADX	0.82	0.81	0.53	0.76		VAADX
	NCIDX	CCD	ARBOX	XNCVX	VAADX

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
NCIDX	0.73	0.04	(0.01)	0.39	1.00	(0.68)	1.29	(1.76)	4.78
CCD	0.87	(0.05)	(0.04)	0.01	1.16	(0.87)	1.76	(2.11)	4.70
ARBOX	0.12	(0.03)	0.00	(0.99)	0.00	0.00	0.17	(0.08)	3.34
XNCVX	0.71	0.00	(0.05)	0.04	0.98	(0.75)	1.20	(1.74)	5.47
VAADX	0.71	(0.01)	(0.02)	0.04	0.92	(0.70)	1.20	(1.71)	4.60

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Alger Capital Correlations

Alger Capital Correlation With Market

Significant diversification

Moving together with Alger Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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