Alger Emerging Correlations

ACEMX Fund

USD 9.96 0.05 0.50%

The current 90-days correlation between Alger Emerging Markets and Alger Midcap Growth is 0.56 (i.e., Very weak diversification). The correlation of Alger Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Alger Emerging Markets and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Alger Mutual Fund

1.0	AAEMX	Alger Emerging Markets	Pair Corr
0.79	AFGPX	Alger International	Pair Corr

Related Correlations Analysis

	AMGAX	AMGCX	AMGOX	AOFYX	AOFIX	AOFAX	AOFCX	CHUSX	CHUCX
AMGAX		1.0	0.85	0.82	0.98	0.98	0.98	0.95	0.95	AMGAX
AMGCX	1.0		0.85	0.82	0.98	0.98	0.98	0.95	0.95	AMGCX
AMGOX	0.85	0.85		0.98	0.86	0.86	0.86	0.81	0.8	AMGOX
AOFYX	0.82	0.82	0.98		0.87	0.87	0.87	0.77	0.77	AOFYX
AOFIX	0.98	0.98	0.86	0.87		1.0	1.0	0.93	0.92	AOFIX
AOFAX	0.98	0.98	0.86	0.87	1.0		1.0	0.93	0.92	AOFAX
AOFCX	0.98	0.98	0.86	0.87	1.0	1.0		0.93	0.92	AOFCX
CHUSX	0.95	0.95	0.81	0.77	0.93	0.93	0.93		1.0	CHUSX
CHUCX	0.95	0.95	0.8	0.77	0.92	0.92	0.92	1.0		CHUCX
	AMGAX	AMGCX	AMGOX	AOFYX	AOFIX	AOFAX	AOFCX	CHUSX	CHUCX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMGAX	0.75	0.13	0.12	0.25	0.77	(0.88)	2.04	(1.33)	4.71
AMGCX	0.76	0.13	0.12	0.25	0.75	(0.91)	2.00	(1.30)	4.76
AMGOX	0.71	0.27	0.20	1.49	0.47	(0.90)	2.11	(1.28)	4.74
AOFYX	1.06	0.29	0.16	1.86	0.80	(1.23)	2.69	(1.38)	7.50
AOFIX	1.10	0.07	0.10	0.17	1.13	(1.18)	2.67	(2.17)	7.49
AOFAX	1.10	0.07	0.10	0.17	1.13	(1.21)	2.66	(2.18)	7.54
AOFCX	1.10	0.06	0.10	0.17	1.14	(1.24)	2.64	(2.18)	7.56
CHUSX	0.66	(0.01)	(0.03)	0.11	0.87	(0.69)	1.30	(1.55)	3.98
CHUCX	0.66	(0.02)	(0.03)	0.11	0.87	(0.69)	1.29	(1.58)	4.03

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Alger Emerging Correlations

Alger Emerging Correlation With Market

Very weak diversification

Moving together with Alger Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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