Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ALVOX Fund  USD 141.37  2.28  1.59%   
The current 90-days correlation between Alger Capital Apprec and Gmo Resources is 0.17 (i.e., Average 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

Very weak diversification

The correlation between Alger Capital Appreciation and DJI is 0.49 (i.e., Very 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 metropolitan statistical area.

Moving together with Alger Mutual Fund

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.88AOFYX Alger Small CapPairCorr
  0.88AOFIX Alger Small CapPairCorr
  0.88AOFAX Alger Small CapPairCorr
  0.87AOFCX Alger Small CapPairCorr
  0.94CHUCX Alger Global GrowthPairCorr
  0.88AAEMX Alger Emerging MarketsPairCorr
  1.0AAGOX Alger Large CapPairCorr
  1.0AAICX Alger Ai EnablersPairCorr
  1.0AAIZX Alger Ai EnablersPairCorr
  1.0AAIYX Alger Mid CapPairCorr
  0.93ASCZX Alger Smallcap GrowthPairCorr
  0.91AASOX Alger Small CapPairCorr
  0.92ASIRX Alger Smallcap GrowthPairCorr
  0.86ASIMX Alger Smidcap FocusPairCorr
  0.86ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.87ASYMX Alger Weatherbie SpePairCorr
  0.97ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  0.99ATVPX Alger 35 FundPairCorr
  0.87ACEMX Alger Emerging MarketsPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.87ADOCX Alger Dynamic OpportPairCorr
  0.88ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.95AFGZX Alger Global GrowthPairCorr
  0.79AFGPX Alger InternationalPairCorr
  0.94AFGIX Alger Global GrowthPairCorr
  0.98AFOIX Alger Mid CapPairCorr

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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