Alger International Correlations

Mutual Funds USA . 
Fund . Alger International Growth
AFGPX Fund  USD 18.53  0.32  1.76%   
The current 90-days correlation between Alger International and Hennessy Nerstone Mid is 0.79 (i.e., Poor diversification). The correlation of Alger International 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 International Correlation With Market

Good diversification

The correlation between Alger International Growth and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger International Growth 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 International Growth. 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 american community survey.

Moving together with Alger Mutual Fund

  0.96AMGAX Alger Midcap GrowthPairCorr
  0.96AMGCX Alger Midcap GrowthPairCorr
  0.94AMGOX Alger Mid CapPairCorr
  0.9AOFYX Alger Small CapPairCorr
  0.9AOFIX Alger Small CapPairCorr
  0.9AOFAX Alger Small CapPairCorr
  0.9AOFCX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.96CHUCX Alger Global GrowthPairCorr
  0.98AAEMX Alger Emerging MarketsPairCorr
  0.94AAGOX Alger Large CapPairCorr
  0.95AAICX Alger Ai EnablersPairCorr
  0.95AAIZX Alger Ai EnablersPairCorr
  0.95AAIYX Alger Mid CapPairCorr
  0.93ASCYX Alger FundsPairCorr
  0.91ASCZX Alger Smallcap GrowthPairCorr
  0.91AASOX Alger Small CapPairCorr
  0.92ASIRX Alger Smallcap GrowthPairCorr
  0.92ASIMX Alger Smidcap FocusPairCorr
  0.92ASMZX Alger Smidcap FocusPairCorr
  0.93ASPCX Alger SpectraPairCorr
  0.93ASPZX Alger SpectraPairCorr
  0.93ASPYX Alger SpectraPairCorr
  0.93ASPIX Alger SpectraPairCorr
  0.94ASYMX Alger Weatherbie SpePairCorr
  0.9ABLOX Alger Balanced PortfolioPairCorr
  0.95ACAYX Alger Capital ApprecPairCorr
  0.93ACAZX Alger Capital ApprecPairCorr
  0.95ACARX Alger Capital ApprecPairCorr
  0.95ACAAX Alger Capital ApprecPairCorr
  0.95ATVPX Alger 35 FundPairCorr
  0.98ACEMX Alger Emerging MarketsPairCorr
  0.93ACIZX Alger Capital ApprecPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.92ADOZX Alger Dynamic OpportPairCorr
  0.95CNEIX Alger Concentrated EquityPairCorr
  0.95CNEYX Alger Concentrated EquityPairCorr
  0.95CNEZX Alger Concentrated EquityPairCorr
  0.96AFGZX Alger Global GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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