Alger Capital Correlations

Mutual Funds USA . 
Fund . Alger Capital Appreciation
ALVOX Fund  USD 124.33  1.01  0.81%   
The current 90-days correlation between Alger Capital Apprec and Federated Hermes Conservative is -0.15 (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

Almost no diversification

The correlation between Alger Capital Appreciation and DJI is 0.91 (i.e., Almost no 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

  0.95AMGAX Alger Midcap GrowthPairCorr
  0.99AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.93AOFYX Alger Small CapPairCorr
  0.93AOFIX Alger Small CapPairCorr
  0.87AOFAX Alger Small CapPairCorr
  0.92AOFCX Alger Small CapPairCorr
  0.95CHUSX Alger Global GrowthPairCorr
  0.98CHUCX Alger Global GrowthPairCorr
  0.91AAEMX Alger Emerging MarketsPairCorr
  1.0AAGOX Alger Large CapPairCorr
  1.0AAICX Alger Ai EnablersPairCorr
  0.97AAIZX Alger Ai EnablersPairCorr
  1.0AAIYX Alger Mid CapPairCorr
  0.97ASCYX Alger FundsPairCorr
  0.97ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.96ASIRX Alger Smallcap GrowthPairCorr
  0.97ASIMX Alger Smidcap FocusPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.97ASYMX Alger Weatherbie SpePairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  1.0ATVPX Alger 35 FundPairCorr
  0.95ACEMX Alger Emerging MarketsPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.95AFGPX Alger InternationalPairCorr

Related Correlations Analysis

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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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