Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
ASPZX Fund  USD 37.05  0.02  0.05%   
The current 90-days correlation between Alger Spectra and Lord Abbett Short is 0.44 (i.e., Very weak 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 weak diversification

The correlation between Alger Spectra Fund and DJI is 0.51 (i.e., Very weak 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 nation.

Moving together with Alger Mutual Fund

  0.96AMGAX Alger Midcap GrowthPairCorr
  0.96AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.89AOFYX Alger Small CapPairCorr
  0.87AOFIX Alger Small CapPairCorr
  0.87AOFAX Alger Small CapPairCorr
  0.86AOFCX Alger Small CapPairCorr
  0.93CHUSX Alger Global GrowthPairCorr
  0.95CHUCX Alger Global GrowthPairCorr
  0.87AAEMX Alger Emerging MarketsPairCorr
  0.99AAGOX Alger Large CapPairCorr
  0.98AAIZX Alger Ai EnablersPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.91ASCYX Alger FundsPairCorr
  0.93ASCZX Alger Smallcap GrowthPairCorr
  0.89AASOX Alger Small CapPairCorr
  0.92ASIRX Alger Smallcap GrowthPairCorr
  0.86ASIMX Alger Smidcap FocusPairCorr
  0.86ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.84ASYMX Alger Weatherbie SpePairCorr
  0.97ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  0.98ACAAX Alger Capital ApprecPairCorr
  0.84ADOCX Alger Dynamic OpportPairCorr
  0.85ADOZX Alger Dynamic OpportPairCorr
  0.98CNEYX Alger Concentrated EquityPairCorr
  0.98CNEZX Alger Concentrated EquityPairCorr
  0.95AFGZX Alger Global GrowthPairCorr
  0.81AFGPX Alger InternationalPairCorr
  0.98AFOZX Alger Funds MidPairCorr
  0.98AGFCX Alger ResponsiblePairCorr
  0.97AGIZX Alger Growth IncomePairCorr
  0.98AGIFX Alger ResponsiblePairCorr
  0.89AGOZX Alger Small CapPairCorr
  0.9AGSCX Alger Smallcap 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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