Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ACIZX Fund  USD 45.17  0.84  1.89%   
The current 90-days correlation between Alger Capital Apprec and Global Gold Fund is 0.42 (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

Good diversification

The correlation between Alger Capital Appreciation and DJI is -0.08 (i.e., Good 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 nation.

Moving together with Alger Mutual Fund

  0.65AMGAX Alger Midcap GrowthPairCorr
  0.66AMGCX Alger Midcap GrowthPairCorr
  0.64AMGOX Alger Mid CapPairCorr
  0.7AOFYX Alger Small CapPairCorr
  0.7AOFAX Alger Small CapPairCorr
  0.86CHUSX Alger Global GrowthPairCorr
  0.85CHUCX Alger Global GrowthPairCorr
  0.74ASCYX Alger FundsPairCorr
  0.72ASIRX Alger Smallcap GrowthPairCorr
  0.85ASPCX Alger SpectraPairCorr
  0.77ASPZX Alger SpectraPairCorr
  0.77ASPYX Alger SpectraPairCorr
  0.79ASPIX Alger SpectraPairCorr
  0.88ACAZX Alger Capital ApprecPairCorr
  0.89ACAAX Alger Capital ApprecPairCorr
  0.86AGIFX Alger ResponsiblePairCorr
  0.7AGOZX Alger Small CapPairCorr
  0.61AHSCX Alger Health SciencesPairCorr
  0.79SPECX Alger SpectraPairCorr
  0.89ALARX Alger Capital ApprecPairCorr
  0.73ALCZX Alger InternationalPairCorr

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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