Alger Capital Correlations

ALCCX Fund

USD 17.98 0.05 0.28%

The current 90-days correlation between Alger Capital Apprec and Praxis Impact Bond is -0.06 (i.e., 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

Weak diversification

The correlation between Alger Capital Appreciation and DJI is 0.34 (i.e., Weak 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 persons.

Moving together with Alger Mutual Fund

0.84	CHUSX	Alger Global Growth	Pair Corr
0.94	CHUCX	Alger Global Growth	Pair Corr
0.96	AAGOX	Alger Large Cap Steady Growth	Pair Corr
0.86	AAICX	Alger Ai Enablers	Pair Corr
0.75	AAIZX	Alger Ai Enablers	Pair Corr
0.69	AAIYX	Alger Mid Cap	Pair Corr
0.87	ASPCX	Alger Spectra Steady Growth	Pair Corr
0.88	ASPZX	Alger Spectra Steady Growth	Pair Corr
0.88	ASPYX	Alger Spectra Steady Growth	Pair Corr
0.9	ASPIX	Alger Spectra Steady Growth	Pair Corr
0.9	ABLOX	Alger Balanced Portfolio	Pair Corr
0.77	ACAYX	Alger Capital Apprec	Pair Corr
0.94	ACAZX	Alger Capital Apprec	Pair Corr
0.96	ACARX	Alger Capital Apprec	Pair Corr
0.83	ACAAX	Alger Capital Apprec	Pair Corr
1.0	ATVPX	Alger 35 Fund Steady Growth	Pair Corr
0.89	ACIZX	Alger Capital Apprec	Pair Corr
0.83	CNEIX	Alger Concentrated Equity Steady Growth	Pair Corr
0.76	AFGZX	Alger Global Growth	Pair Corr
0.86	AFGPX	Alger International	Pair Corr
0.75	AFGIX	Alger Global Growth	Pair Corr

Moving against Alger Mutual Fund

0.31

ASIMX

Alger Smidcap Focus

Pair Corr

Related Correlations Analysis

	MIIIX	MSTBX	CFNLX	BBINX	PRFHX	TBGAX	RGVAX	0P000070L2
MIIIX		0.73	0.69	0.69	0.75	0.75	0.94	0.47	MIIIX
MSTBX	0.73		0.85	0.84	0.74	0.79	0.67	0.83	MSTBX
CFNLX	0.69	0.85		0.99	0.95	0.97	0.64	0.87	CFNLX
BBINX	0.69	0.84	0.99		0.95	0.98	0.66	0.86	BBINX
PRFHX	0.75	0.74	0.95	0.95		0.99	0.7	0.73	PRFHX
TBGAX	0.75	0.79	0.97	0.98	0.99		0.7	0.77	TBGAX
RGVAX	0.94	0.67	0.64	0.66	0.7	0.7		0.49	RGVAX
0P000070L2	0.47	0.83	0.87	0.86	0.73	0.77	0.49		0P000070L2
	MIIIX	MSTBX	CFNLX	BBINX	PRFHX	TBGAX	RGVAX	0P000070L2

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
MIIIX	0.16	0.00	(0.31)	0.25	0.13	(0.20)	0.32	(0.31)	0.94
MSTBX	0.07	0.00	(0.52)	0.20	0.00	(0.13)	0.20	(0.10)	0.41
CFNLX	0.07	0.00	(0.62)	0.00	0.00	(0.10)	0.21	(0.11)	0.48
BBINX	0.06	0.00	(0.52)	1.56	0.00	(0.14)	0.10	(0.10)	0.58
PRFHX	0.10	0.01	(0.37)	(0.73)	0.00	(0.15)	0.27	(0.18)	0.82
TBGAX	0.09	0.01	(0.35)	(1.76)	0.00	(0.14)	0.28	(0.18)	0.74
RGVAX	0.13	0.00	(0.35)	0.32	0.11	(0.17)	0.25	(0.25)	0.83
0P000070L2	0.03	0.01	0.00	(3.09)	0.00	0.00	0.00	0.00	0.40

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