Alger Mid Correlations

Mutual Funds . USA . 
Fund . Alger Mid Cap
AMGOX Fund  USD 24.01  0.74  2.99%   
The current 90-days correlation between Alger Mid Cap and California Municipal Portfolio is 0.18 (i.e., Average diversification). The correlation of Alger Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Alger Mid Cap and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Mid Cap 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 Mid Cap. 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

  1.0AMGAX Alger Midcap GrowthPairCorr
  1.0AMGCX Alger Midcap GrowthPairCorr
  0.96AOFYX Alger Small CapPairCorr
  0.96AOFIX Alger Small CapPairCorr
  0.96AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.87CHUSX Alger Global GrowthPairCorr
  0.85CHUCX Alger Global GrowthPairCorr
  0.87AAEMX Alger Emerging MarketsPairCorr
  0.96AAGOX Alger Large CapPairCorr
  0.96AAICX Alger Ai EnablersPairCorr
  0.96AAIZX Alger Ai EnablersPairCorr
  0.96AAIYX Alger Mid CapPairCorr
  0.92ASCYX Alger FundsPairCorr
  0.92ASCZX Alger Smallcap GrowthPairCorr
  0.91AASOX Alger Small CapPairCorr
  0.9ASIRX Alger Smallcap GrowthPairCorr
  0.96ASPCX Alger SpectraPairCorr
  0.96ASPZX Alger SpectraPairCorr
  0.96ASPYX Alger SpectraPairCorr
  0.96ASPIX Alger SpectraPairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  0.96ACAYX Alger Capital ApprecPairCorr
  0.96ACAZX Alger Capital ApprecPairCorr
  0.96ACARX Alger Capital ApprecPairCorr
  0.96ACAAX Alger Capital ApprecPairCorr
  0.97ATVPX Alger 35 FundPairCorr
  0.87ACEMX Alger Emerging MarketsPairCorr
  0.96ACIZX Alger Capital ApprecPairCorr
  0.94ADOCX Alger Dynamic OpportPairCorr
  0.95ADOZX Alger Dynamic OpportPairCorr
  0.96CNEIX Alger Concentrated EquityPairCorr
  0.96CNEYX Alger Concentrated EquityPairCorr
  0.96CNEZX Alger Concentrated EquityPairCorr
  0.87AFGZX Alger Global GrowthPairCorr
  0.72AFGPX Alger InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Mid 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 Mid'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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