Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ACATX Fund  USD 7.62  0.01  0.13%   
The current 90-days correlation between Alger Capital Apprec and Franklin Adjustable Government is 0.49 (i.e., Very weak 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

Average diversification

The correlation between Alger Capital Appreciation and DJI is 0.13 (i.e., Average 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 estimate.

Moving together with Alger Mutual Fund

  0.69RREMX Rbc Emerging MarketsPairCorr
  0.74RSDIX Rbc Short DurationPairCorr
  0.96RSHFX Rbc Short DurationPairCorr
  0.81RBCIX Rbc China EquityPairCorr
  0.88RBCRX Rbc Bluebay AbsolutePairCorr
  0.95RBESX Rbc Bluebay EmergingPairCorr
  0.92RBERX Rbc Bluebay EmergingPairCorr
  0.72RBIAX Rbc Funds TrustPairCorr
  0.72RBSRX Rbc Bluebay StrategicPairCorr
  0.85RCEAX Riversource Series TrustPairCorr
  0.99RCPIX Rbc Funds TrustPairCorr
  0.96RCPRX Rbc Bluebay CorePairCorr
  0.63RULFX Rbc Ultra ShortPairCorr
  1.0ACASX Access Capital MunityPairCorr
  0.86RUSIX Rbc Ultra ShortPairCorr
  1.0ACCSX Access Capital MunityPairCorr
  0.68REEAX Rbc Emerging MarketsPairCorr
  0.73REEIX Rbc Emerging MarketsPairCorr
  0.74REMVX Rbc Emerging MarketsPairCorr
  0.95RESAX Rbc Bluebay EmergingPairCorr
  0.77REVAX Rbc Funds TrustPairCorr
  0.76RGHYX Rbc Bluebay GlobalPairCorr

Moving against Alger Mutual Fund

  0.81RSMRX Rbc Smid CapPairCorr
  0.81TMCIX Rbc Smid CapPairCorr
  0.79TETAX Rbc EnterprisePairCorr
  0.77TMCAX Rbc Smid CapPairCorr
  0.76TEEAX Rbc Small CapPairCorr
  0.76RBRCX Rbc Small CapPairCorr
  0.76RCSIX Rbc Small CapPairCorr
  0.73RSVIX Rbc Small CapPairCorr
  0.72TETIX Rbc EnterprisePairCorr
  0.69RRSVX Rbc Small CapPairCorr
  0.66RBVAX Rbc Small CapPairCorr
  0.48RECAX Rbc Bluebay EmergingPairCorr
  0.68RMVIX Rbc Microcap ValuePairCorr
  0.48RECRX Rbc Emerging MarketsPairCorr
  0.45RGOIX Rbc Global OpportunitiesPairCorr
  0.45RGORX Rbc Global OpportunitiesPairCorr
  0.43TMVAX Rbc Microcap ValuePairCorr
  0.41RGPAX Rbc Global OpportunitiesPairCorr
  0.37RECIX Rbc Emerging MarketsPairCorr
  0.33RGRLX Rbc Global EquityPairCorr

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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