Alger Mid Correlations

Mutual Funds . USA . 
Fund . Alger Mid Cap
AFOIX Fund  USD 15.53  0.39  2.45%   
The current 90-days correlation between Alger Mid Cap and Alger Small Cap is 0.89 (i.e., Very poor diversification). The correlation of Alger Mid 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 Mid Correlation With Market

Good diversification

The correlation between Alger Mid Cap and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Mid Cap 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 Mid Cap. 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 gross domestic product.

Moving together with Alger Mutual Fund

  0.94AMGAX Alger Midcap GrowthPairCorr
  0.94AMGCX Alger Midcap GrowthPairCorr
  0.95AMGOX Alger Mid CapPairCorr
  0.94AOFYX Alger Small CapPairCorr
  0.94AOFIX Alger Small CapPairCorr
  0.94AOFAX Alger Small CapPairCorr
  0.93AOFCX Alger Small CapPairCorr
  0.75CHUSX Alger Global GrowthPairCorr
  0.76CHUCX Alger Global GrowthPairCorr
  0.94AAGOX Alger Large CapPairCorr
  0.98AAICX Alger Ai EnablersPairCorr
  0.98AAIZX Alger Ai EnablersPairCorr
  0.94AAIYX Alger Mid CapPairCorr
  0.9ASCYX Alger FundsPairCorr
  0.9ASCZX Alger Smallcap GrowthPairCorr
  0.92AASOX Alger Small CapPairCorr
  0.88ASIRX Alger Smallcap GrowthPairCorr
  0.87ASIMX Alger Smidcap FocusPairCorr
  0.91ASMZX Alger Smidcap FocusPairCorr
  0.93ASPCX Alger SpectraPairCorr
  0.94ASPZX Alger SpectraPairCorr
  0.94ASPYX Alger SpectraPairCorr
  0.94ASPIX Alger SpectraPairCorr
  0.87ASYMX Alger Weatherbie SpePairCorr
  0.86ABLOX Alger Balanced PortfolioPairCorr
  0.91ACAYX Alger Capital ApprecPairCorr
  0.92ACAZX Alger Capital ApprecPairCorr
  0.88ACARX Alger Capital ApprecPairCorr
  0.91ACAAX Alger Capital ApprecPairCorr
  0.97ATVPX Alger 35 FundPairCorr
  0.91ACIZX Alger Capital ApprecPairCorr
  0.9ADOCX Alger Dynamic OpportPairCorr
  0.96ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  0.97CNEYX Alger Concentrated EquityPairCorr
  0.97CNEZX Alger Concentrated EquityPairCorr
  0.76AFGZX Alger Global GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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