Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra
ASPYX Fund  USD 37.34  0.20  0.54%   
The current 90-days correlation between Alger Spectra and Pace Large Growth is 0.21 (i.e., Modest 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

Very poor diversification

The correlation between Alger Spectra and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra 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. 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 services.

Moving together with Alger Mutual Fund

  0.76AMGAX Alger Midcap GrowthPairCorr
  0.74AMGCX Alger Midcap GrowthPairCorr
  0.75AMGOX Alger Mid CapPairCorr
  0.68AOFYX Alger Small CapPairCorr
  0.68AOFIX Alger Small CapPairCorr
  0.68AOFAX Alger Small CapPairCorr
  0.67AOFCX Alger Small CapPairCorr
  0.95CHUSX Alger Global GrowthPairCorr
  0.94CHUCX Alger Global GrowthPairCorr
  0.74AAEMX Alger Emerging MarketsPairCorr
  0.98AAGOX Alger Large Cap Potential GrowthPairCorr
  0.99AAICX Alger Ai EnablersPairCorr
  0.73ASCYX Alger FundsPairCorr
  0.73ASCZX Alger Smallcap GrowthPairCorr
  0.77AASOX Alger Small CapPairCorr
  0.85ASIRX Alger Smallcap GrowthPairCorr
  0.72ASIMX Alger Smidcap FocusPairCorr
  0.71ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  0.71ASYMX Alger Weatherbie SpePairCorr
  0.89ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.99ACARX Alger Capital ApprecPairCorr
  0.99ACAAX Alger Capital ApprecPairCorr
  0.92ATVPX Alger 35 Fund Potential GrowthPairCorr
  0.73ACEMX Alger Emerging MarketsPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.64ADOCX Alger Dynamic OpportPairCorr
  0.67ADOZX Alger Dynamic OpportPairCorr
  0.99CNEYX Alger Concentrated EquityPairCorr
  0.99CNEZX Alger Concentrated EquityPairCorr
  0.95AFGZX Alger Global GrowthPairCorr
  0.91AFGPX Alger InternationalPairCorr
  0.95AFGIX Alger Global GrowthPairCorr
  0.77AFOIX Alger Mid CapPairCorr

Moving against Alger Mutual Fund

  0.49CNEIX Alger Concentrated Equity Potential GrowthPairCorr

Related Correlations Analysis


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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