Alger Global Correlations

Mutual Funds . USA . 
Fund . Alger Global Growth
AFGZX Fund  USD 27.72  0.04  0.14%   
The current 90-days correlation between Alger Global Growth and Us Government Securities is 0.01 (i.e., Significant diversification). The correlation of Alger Global 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 Global Correlation With Market

Poor diversification

The correlation between Alger Global Growth and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Global Growth 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 Global Growth. 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

  0.79AMGAX Alger Midcap GrowthPairCorr
  0.79AMGCX Alger Midcap GrowthPairCorr
  0.79AMGOX Alger Mid CapPairCorr
  0.75AOFYX Alger Small CapPairCorr
  0.75AOFIX Alger Small CapPairCorr
  0.75AOFAX Alger Small CapPairCorr
  0.78CHUSX Alger Global GrowthPairCorr
  0.78CHUCX Alger Global GrowthPairCorr
  0.72ASIMX Alger Smidcap FocusPairCorr
  0.72ASMZX Alger Smidcap FocusPairCorr
  0.79ASPZX Alger SpectraPairCorr
  0.79ASPIX Alger SpectraPairCorr
  0.72ASYMX Alger Weatherbie SpePairCorr
  0.79ACAYX Alger Capital ApprecPairCorr
  0.79ACAAX Alger Capital ApprecPairCorr
  0.79ACIZX Alger Capital ApprecPairCorr
  0.77ADOCX Alger Dynamic OpportPairCorr
  0.77ADOZX Alger Dynamic OpportPairCorr
  0.79AFOZX Alger Funds MidPairCorr
  0.75AGOZX Alger Small CapPairCorr
  0.66AHSCX Alger Health SciencesPairCorr
  0.66AHSZX Alger Health SciencesPairCorr
  0.8AIFAX Alger Ai EnablersPairCorr
  0.77SPEDX Alger Dynamic OpportPairCorr
  0.8ALAFX Alger Capital ApprecPairCorr
  0.79ALCCX Alger Capital ApprecPairCorr
  0.8ALCFX Alger Capital ApprecPairCorr
  0.79ALMRX Alger Midcap GrowthPairCorr
  0.79ALMZX Alger Midcap GrowthPairCorr
  0.79ALOYX Alger Mid CapPairCorr
  0.79ALOAX Alger Mid CapPairCorr
  0.8ALVOX Alger Capital ApprecPairCorr
  0.8ALZFX Alger Capital ApprecPairCorr
  0.79AMCZX Alger Midcap GrowthPairCorr
  0.62FNFPX American Funds NewPairCorr
  0.62FFPNX American Funds NewPairCorr
  0.7NPFCX New PerspectivePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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