Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ACARX Fund  USD 29.74  1.01  3.28%   
The current 90-days correlation between Alger Capital Apprec and Alpine Ultra Short is -0.08 (i.e., Good diversification). The correlation of Alger Capital 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 Capital Correlation With Market

Very weak diversification

The correlation between Alger Capital Appreciation and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Capital Appreciation 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 Capital Appreciation. 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

  0.97AMGAX Alger Midcap GrowthPairCorr
  0.97AMGCX Alger Midcap GrowthPairCorr
  0.97AMGOX Alger Mid CapPairCorr
  0.93AOFYX Alger Small CapPairCorr
  0.9AOFIX Alger Small CapPairCorr
  0.93AOFAX Alger Small CapPairCorr
  0.92CHUSX Alger Global GrowthPairCorr
  0.98CHUCX Alger Global GrowthPairCorr
  0.92ASCZX Alger Smallcap GrowthPairCorr
  0.91AASOX Alger Small CapPairCorr
  0.89ASIMX Alger Smidcap FocusPairCorr
  0.87ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.89ASYMX Alger Weatherbie SpePairCorr
  0.94ACAYX Alger Capital Apprec Steady GrowthPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  1.0ACIZX Alger Capital Apprec Steady GrowthPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.94ADOZX Alger Dynamic OpportPairCorr
  0.93CNEIX Alger Concentrated Equity Steady GrowthPairCorr
  0.93CNEYX Alger Concentrated Equity Steady GrowthPairCorr
  0.93CNEZX Alger Concentrated Equity Steady GrowthPairCorr
  0.99AFOIX Alger Mid Cap Steady GrowthPairCorr
  0.99AFOZX Alger Funds Mid Steady GrowthPairCorr
  0.92AGIZX Alger Growth IncomePairCorr
  0.99AGIFX Alger ResponsiblePairCorr
  0.93AGOZX Alger Small CapPairCorr
  0.9AGSCX Alger Smallcap GrowthPairCorr
  0.78AHSCX Alger Health SciencesPairCorr
  0.79AHSZX Alger Health SciencesPairCorr
  0.94AIFAX Alger Ai Enablers Steady GrowthPairCorr
  0.92AIGOX Alger Growth IncomePairCorr
  1.0SPECX Alger SpectraPairCorr
  0.94SPEDX Alger Dynamic OpportPairCorr
  0.99SPEGX Alger ResponsiblePairCorr
  0.84ALBAX Alger Growth IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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