Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
ASPIX Fund  USD 31.17  0.24  0.76%   
The current 90-days correlation between Alger Spectra and Valic Company I is -0.09 (i.e., Good diversification). The correlation of Alger Spectra 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 Spectra Correlation With Market

Almost no diversification

The correlation between Alger Spectra Fund and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra Fund 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 Spectra Fund. 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 gross domestic product.

Moving together with Alger Mutual Fund

  0.95AMGAX Alger Midcap GrowthPairCorr
  0.99AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.81AOFYX Alger Small CapPairCorr
  0.86AOFIX Alger Small CapPairCorr
  0.86AOFAX Alger Small CapPairCorr
  0.85AOFCX Alger Small CapPairCorr
  0.95CHUSX Alger Global GrowthPairCorr
  0.91CHUCX Alger Global GrowthPairCorr
  0.91AAEMX Alger Emerging MarketsPairCorr
  1.0AAGOX Alger Large CapPairCorr
  0.94AAICX Alger Ai EnablersPairCorr
  0.94AAIZX Alger Ai EnablersPairCorr
  0.89AAIYX Alger Mid CapPairCorr
  0.91ASCYX Alger FundsPairCorr
  0.89ASCZX Alger Smallcap GrowthPairCorr
  0.91AASOX Alger Small CapPairCorr
  0.87ASIRX Alger Smallcap GrowthPairCorr
  0.92ASIMX Alger Smidcap FocusPairCorr
  0.92ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  0.9ASPZX Alger SpectraPairCorr
  0.97ASPYX Alger SpectraPairCorr
  0.93ASYMX Alger Weatherbie SpePairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  0.97ACAYX Alger Capital ApprecPairCorr
  0.9ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  0.95ATVPX Alger 35 FundPairCorr
  0.88ACEMX Alger Emerging MarketsPairCorr
  0.9ACIZX Alger Capital ApprecPairCorr
  0.94ADOCX Alger Dynamic OpportPairCorr
  0.96ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.95AFGZX Alger Global GrowthPairCorr
  0.92AFGPX 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 Spectra 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 Spectra'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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