Alger Midcap Correlations

AMCGX Fund

USD 10.91 0.10 0.91%

The current 90-days correlation between Alger Midcap Growth and Franklin Equity Income is -0.34 (i.e., Very good diversification). The correlation of Alger Midcap 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 Midcap Correlation With Market

Very good diversification

The correlation between Alger Midcap Growth and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Midcap Growth 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 Midcap Growth. 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 rate.

Moving together with Alger Mutual Fund

1.0	AMGAX	Alger Midcap Growth	Pair Corr
1.0	AMGCX	Alger Midcap Growth	Pair Corr
0.89	AOFIX	Alger Small Cap	Pair Corr
0.93	AOFAX	Alger Small Cap	Pair Corr
0.89	AOFCX	Alger Small Cap	Pair Corr
0.86	AAEMX	Alger Emerging Markets	Pair Corr
0.98	AAIYX	Alger Mid Cap	Pair Corr
0.88	AASOX	Alger Small Cap	Pair Corr
0.89	ASIRX	Alger Smallcap Growth	Pair Corr
0.84	ASIMX	Alger Smidcap Focus	Pair Corr
0.84	ASMZX	Alger Smidcap Focus	Pair Corr
0.96	ASPYX	Alger Spectra	Pair Corr
0.96	ASPIX	Alger Spectra	Pair Corr
0.96	ACAYX	Alger Capital Apprec	Pair Corr
0.96	ACAZX	Alger Capital Apprec	Pair Corr
0.96	ACARX	Alger Capital Apprec	Pair Corr
0.88	ADOZX	Alger Dynamic Opport	Pair Corr
0.96	CNEYX	Alger Concentrated Equity	Pair Corr
0.91	AFGZX	Alger Global Growth	Pair Corr
0.82	AFGPX	Alger International	Pair Corr
0.9	AGOZX	Alger Small Cap	Pair Corr
0.85	AIEMX	Alger Emerging Markets	Pair Corr
0.96	AIFIX	Salient Investment Grade	Pair Corr
0.78	AIGIX	Alger International	Pair Corr
0.92	SPEDX	Alger Dynamic Opport	Pair Corr
0.95	ALBAX	Alger Growth Income	Pair Corr
0.98	ALAFX	Alger Capital Apprec	Pair Corr
0.79	ALCZX	Alger International	Pair Corr
0.96	ALCFX	Alger Capital Apprec	Pair Corr
0.78	ALGAX	Alger International	Pair Corr
0.81	ALGCX	Alger International	Pair Corr
0.96	ALGRX	Alger Capital Apprec	Pair Corr
0.88	ALMAX	Alger Smidcap Focus	Pair Corr
0.93	ALSAX	Alger Smallcap Growth	Pair Corr
0.93	ALSCX	Alger Smallcap Growth	Pair Corr
0.89	ALSRX	Alger Smallcap Growth	Pair Corr
0.96	ALVOX	Alger Capital Apprec	Pair Corr
0.96	ALZFX	Alger Capital Apprec	Pair Corr

Related Correlations Analysis

	FREIX	CSPFX	JGECX	SWSFX	PASTX	AAEZX	GMADX	RBCIX
FREIX		0.97	0.95	0.94	0.97	0.96	0.96	0.88	FREIX
CSPFX	0.97		0.94	0.89	0.94	0.94	0.95	0.82	CSPFX
JGECX	0.95	0.94		0.88	0.89	0.91	0.94	0.87	JGECX
SWSFX	0.94	0.89	0.88		0.95	0.96	0.91	0.87	SWSFX
PASTX	0.97	0.94	0.89	0.95		0.96	0.91	0.83	PASTX
AAEZX	0.96	0.94	0.91	0.96	0.96		0.96	0.88	AAEZX
GMADX	0.96	0.95	0.94	0.91	0.91	0.96		0.91	GMADX
RBCIX	0.88	0.82	0.87	0.87	0.83	0.88	0.91		RBCIX
	FREIX	CSPFX	JGECX	SWSFX	PASTX	AAEZX	GMADX	RBCIX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Midcap 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 Midcap'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
FREIX	0.43	0.08	0.09	0.24	0.00	(0.48)	1.05	(0.71)	2.49
CSPFX	0.60	0.03	0.04	0.15	0.49	(0.66)	1.60	(1.05)	3.34
JGECX	0.47	0.11	(0.03)	(0.95)	0.41	(0.52)	1.10	(1.01)	2.36
SWSFX	0.04	0.01	0.00	0.53	0.00	0.00	0.10	(0.10)	0.59
PASTX	0.80	0.18	0.16	0.33	0.65	(0.93)	2.11	(1.50)	4.86
AAEZX	0.18	0.03	(0.24)	0.29	0.00	(0.25)	0.49	(0.30)	1.01
GMADX	0.52	0.05	0.04	0.17	0.37	(0.61)	1.30	(0.94)	2.68
RBCIX	0.80	0.22	0.09	(1.44)	0.67	(0.99)	1.71	(1.63)	4.52

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Alger Midcap Correlations

Alger Midcap Correlation With Market

Very good diversification

Moving together with Alger Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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