Alger Capital Correlations

Mutual Funds USA . 
Fund . Alger Capital Appreciation
ALVOX Fund  USD 155.80  0.20  0.13%   
The current 90-days correlation between Alger Capital Apprec and Siit Global Managed is 0.06 (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 0.06 (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 metropolitan statistical area.

Moving together with Alger Mutual Fund

  0.75AOFYX Alger Small Cap Potential GrowthPairCorr
  0.75AOFAX Alger Small CapPairCorr
  0.94AAGOX Alger Large CapPairCorr
  0.97AAIZX Alger Ai EnablersPairCorr
  0.77ASCYX Alger FundsPairCorr
  0.77ASCZX Alger Smallcap GrowthPairCorr
  0.72AASOX Alger Small CapPairCorr
  0.69ASIRX Alger Smallcap GrowthPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.68ASPIX Alger SpectraPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  0.67ACIZX Alger Capital ApprecPairCorr
  0.69CNEIX Alger Concentrated EquityPairCorr
  0.69CNEYX Alger Concentrated EquityPairCorr
  0.69CNEZX Alger Concentrated EquityPairCorr
  0.66AFGPX Alger InternationalPairCorr
  0.75AFOZX Alger Funds MidPairCorr
  0.9AGIFX Alger ResponsiblePairCorr
  0.77AGSCX Alger Smallcap GrowthPairCorr
  0.85AZEMX Alger Emerging MarketsPairCorr
  0.85AIEMX Alger Emerging MarketsPairCorr
  0.63AIGOX Alger Growth IncomePairCorr
  0.66AIGIX Alger InternationalPairCorr
  0.67SPECX Alger SpectraPairCorr

Related Correlations Analysis


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.

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