Alger Midcap Correlations

Mutual Funds . USA . 
Fund . Alger Midcap Growth
AMGAX Fund  USD 17.86  0.23  1.30%   
The current 90-days correlation between Alger Midcap Growth and Calvert Short Duration is -0.11 (i.e., 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

Poor diversification

The correlation between Alger Midcap Growth and DJI is 0.62 (i.e., Poor 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 nation.

Moving together with Alger Mutual Fund

  1.0AMGCX Alger Midcap GrowthPairCorr
  0.89AOFIX Alger Small CapPairCorr
  0.72AOFCX Alger Small CapPairCorr
  0.82AAEMX Alger Emerging MarketsPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.88AASOX Alger Small CapPairCorr
  0.86ASIMX Alger Smidcap FocusPairCorr
  0.74ASMZX Alger Smidcap FocusPairCorr
  0.97ASPYX Alger SpectraPairCorr
  0.85ASPIX Alger SpectraPairCorr
  0.7ACAYX Alger Capital ApprecPairCorr
  0.86ACARX Alger Capital ApprecPairCorr
  0.81ADOZX Alger Dynamic OpportPairCorr
  0.98CNEYX Alger Concentrated EquityPairCorr
  0.76AFGZX Alger Global GrowthPairCorr
  0.7AFGPX Alger InternationalPairCorr
  0.73AGOZX Alger Small CapPairCorr
  0.7AIFIX Salient Investment GradePairCorr
  0.68AIGIX Alger InternationalPairCorr
  0.64ALBAX Alger Growth IncomePairCorr
  0.98ALAFX Alger Capital ApprecPairCorr
  0.98ALCFX Alger Capital ApprecPairCorr
  0.86ALGRX Alger Capital ApprecPairCorr
  0.86ALMAX Alger Smidcap FocusPairCorr
  0.9ALSAX Alger Smallcap GrowthPairCorr
  0.9ALSCX Alger Smallcap GrowthPairCorr
  0.86ALVOX Alger Capital ApprecPairCorr
  0.86ALZFX Alger Capital ApprecPairCorr
  0.68AMCZX Alger Midcap GrowthPairCorr
  1.0AMCGX Alger Midcap GrowthPairCorr

Related Correlations Analysis


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.

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