Alger Growth Correlations

ALBAX Fund

USD 93.86 0.83 0.89%

The current 90-days correlation between Alger Growth Income and Allianzgi Technology Fund is 0.8 (i.e., Very poor diversification). The correlation of Alger Growth 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 Growth Correlation With Market

Average diversification

The correlation between Alger Growth Income and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Growth Income 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 Growth Income. 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 nation.

Moving together with Alger Mutual Fund

0.69	AOFAX	Alger Small Cap	Pair Corr
0.62	AAEMX	Alger Emerging Markets	Pair Corr
0.72	ASCYX	Alger Funds	Pair Corr
0.61	ASCZX	Alger Smallcap Growth	Pair Corr
0.65	AASOX	Alger Small Cap	Pair Corr
0.67	ASIRX	Alger Smallcap Growth	Pair Corr
0.76	ASIMX	Alger Smidcap Focus	Pair Corr
0.76	ASMZX	Alger Smidcap Focus	Pair Corr
0.76	ASYMX	Alger Weatherbie Spe	Pair Corr

Related Correlations Analysis

	RAGTX	TEPIX	ICTEX	ROGSX	DTEYX	JGLTX	TOWTX	FRBRX
RAGTX		0.85	0.43	0.73	0.64	0.75	0.53	-0.2	RAGTX
TEPIX	0.85		0.37	0.92	0.63	0.91	0.61	-0.24	TEPIX
ICTEX	0.43	0.37		0.47	0.86	0.12	0.79	0.51	ICTEX
ROGSX	0.73	0.92	0.47		0.65	0.88	0.73	-0.07	ROGSX
DTEYX	0.64	0.63	0.86	0.65		0.41	0.81	0.17	DTEYX
JGLTX	0.75	0.91	0.12	0.88	0.41		0.41	-0.39	JGLTX
TOWTX	0.53	0.61	0.79	0.73	0.81	0.41		0.39	TOWTX
FRBRX	-0.2	-0.24	0.51	-0.07	0.17	-0.39	0.39		FRBRX
	RAGTX	TEPIX	ICTEX	ROGSX	DTEYX	JGLTX	TOWTX	FRBRX

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

ROGSX	+ 0.92	TEPIX
JGLTX	+ 0.91	TEPIX
JGLTX	+ 0.88	ROGSX
DTEYX	+ 0.86	ICTEX
TEPIX	+ 0.85	RAGTX
TOWTX	+ 0.81	DTEYX

High negative correlations

FRBRX	- 0.39	JGLTX
FRBRX	- 0.24	TEPIX
FRBRX	- 0.2	RAGTX
FRBRX	- 0.07	ROGSX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Growth 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 Growth'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
RAGTX	1.15	0.07	0.00	0.93	1.63	(1.08)	2.63	(2.89)	6.77
TEPIX	1.55	(0.08)	(0.01)	0.04	2.55	(1.30)	3.61	(4.02)	9.12
ICTEX	1.37	0.34	0.28	0.31	0.90	(1.75)	1.78	(2.32)	30.28
ROGSX	0.92	(0.05)	(0.03)	0.04	1.44	(0.86)	1.81	(2.26)	5.66
DTEYX	1.23	0.13	0.08	0.20	1.49	(1.28)	2.32	(2.47)	12.28
JGLTX	0.98	(0.04)	(0.02)	0.05	1.49	(0.92)	2.13	(2.69)	5.55
TOWTX	0.71	(0.05)	(0.05)	0.04	0.90	(0.75)	1.59	(1.33)	3.42
FRBRX	1.20	0.14	0.02	(0.95)	1.82	(1.21)	2.32	(2.49)	10.23

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