Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ALZFX Fund  USD 106.67  0.21  0.20%   
The current 90-days correlation between Alger Capital Apprec and Alger Small Cap is 0.61 (i.e., Poor 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 0.47 (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 price.

Moving together with ALGER Mutual Fund

  0.88AMGAX Alger Midcap GrowthPairCorr
  0.89AMGCX Alger Midcap GrowthPairCorr
  0.88AMGOX Alger Mid CapPairCorr
  0.85AOFIX Alger Small CapPairCorr
  0.75AOFAX Alger Small CapPairCorr
  0.73AOFCX Alger Small CapPairCorr
  0.74AAEMX Alger Emerging MarketsPairCorr
  1.0AAGOX Alger Large CapPairCorr
  0.7AAICX Alger Ai EnablersPairCorr
  0.69AAIZX Alger Ai EnablersPairCorr
  0.9AAIYX Alger Mid CapPairCorr
  0.9ASCZX Alger Smallcap GrowthPairCorr
  0.79AASOX Alger Small CapPairCorr
  0.89ASIRX Alger Smallcap GrowthPairCorr
  0.84ASIMX Alger Smidcap FocusPairCorr
  0.75ASMZX Alger Smidcap FocusPairCorr
  0.9ASPCX Alger SpectraPairCorr
  0.9ASPZX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.75ASYMX Alger Weatherbie SpePairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  0.72ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  0.9ACAAX Alger Capital ApprecPairCorr
  0.89ATVPX Alger 35 FundPairCorr
  0.73ACEMX Alger Emerging MarketsPairCorr
  0.9ACIZX Alger Capital ApprecPairCorr
  0.9ADOCX Alger Dynamic OpportPairCorr
  0.91ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.88AFGZX Alger Global GrowthPairCorr
  0.81AFGIX Alger Global GrowthPairCorr
  0.69AFOIX 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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