Alger Capital Correlations

ALCCX Fund

USD 21.25 0.20 0.93%

The current 90-days correlation between Alger Capital Apprec and Vanguard Financials Index is 0.24 (i.e., Modest 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

Very weak diversification

The correlation between Alger Capital Appreciation and DJI is 0.49 (i.e., Very weak 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 main economic indicators.

Moving together with Alger Mutual Fund

0.99	AMGAX	Alger Midcap Growth	Pair Corr
0.99	AMGCX	Alger Midcap Growth	Pair Corr
0.98	AMGOX	Alger Mid Cap	Pair Corr
0.96	AOFYX	Alger Small Cap	Pair Corr
0.96	AOFIX	Alger Small Cap	Pair Corr
0.96	AOFAX	Alger Small Cap	Pair Corr
0.97	CHUSX	Alger Global Growth	Pair Corr
0.89	AASOX	Alger Small Cap	Pair Corr
1.0	ASPCX	Alger Spectra	Pair Corr
1.0	ASPZX	Alger Spectra	Pair Corr
0.98	ASPYX	Alger Spectra	Pair Corr
1.0	ACAAX	Alger Capital Apprec	Pair Corr
0.99	ATVPX	Alger 35 Fund	Pair Corr
1.0	ACIZX	Alger Capital Apprec	Pair Corr
0.97	ADOCX	Alger Dynamic Opport	Pair Corr
0.98	ADOZX	Alger Dynamic Opport	Pair Corr
0.98	CNEIX	Alger Concentrated Equity	Pair Corr
0.98	CNEYX	Alger Concentrated Equity	Pair Corr
0.95	CNEZX	Alger Concentrated Equity	Pair Corr
0.9	AGIZX	Alger Growth Income	Pair Corr
0.98	SPEDX	Alger Dynamic Opport	Pair Corr
0.93	ALBAX	Alger Growth Income	Pair Corr
0.9	ALMCX	Alger Smidcap Focus	Pair Corr
0.92	ALSRX	Alger Smallcap Growth	Pair Corr
0.96	FAFGX	American Funds	Pair Corr
0.96	FFAFX	American Funds	Pair Corr
0.96	GFACX	Growth Fund	Pair Corr
0.98	GFAFX	Growth Fund	Pair Corr
0.98	AGTHX	Growth Fund	Pair Corr
0.98	CGFFX	Growth Fund	Pair Corr
0.96	CGFCX	Growth Fund	Pair Corr
0.96	CGFAX	Growth Fund	Pair Corr
0.98	CGFEX	Growth Fund	Pair Corr
0.98	RGAEX	Growth Fund	Pair Corr

Moving against Alger Mutual Fund

0.45	AIGIX	Alger International	Pair Corr
0.35	ACEMX	Alger Emerging Markets	Pair Corr
0.33	AAEMX	Alger Emerging Markets	Pair Corr
0.87	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.86	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.81	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.59	NHS	Neuberger Berman High	Pair Corr
0.58	PFHCX	Pacific Funds Small	Pair Corr
0.34	BA	Boeing Buyout Trend	Pair Corr

Related Correlations Analysis

	VFAIX	IAAEX	SBFAX	GCFSX	FNPIX	MCBXX	FTIXX	PFSQX
VFAIX		0.92	0.98	0.95	0.97	0.0	0.0	1.0	VFAIX
IAAEX	0.92		0.88	0.88	0.89	0.0	0.0	0.93	IAAEX
SBFAX	0.98	0.88		0.91	1.0	0.0	0.0	0.97	SBFAX
GCFSX	0.95	0.88	0.91		0.91	0.0	0.0	0.96	GCFSX
FNPIX	0.97	0.89	1.0	0.91		0.0	0.0	0.97	FNPIX
MCBXX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MCBXX
FTIXX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FTIXX
PFSQX	1.0	0.93	0.97	0.96	0.97	0.0	0.0		PFSQX
	VFAIX	IAAEX	SBFAX	GCFSX	FNPIX	MCBXX	FTIXX	PFSQX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PFSQX	+ 1.0	VFAIX
FNPIX	+ 1.0	SBFAX
SBFAX	+ 0.98	VFAIX
FNPIX	+ 0.97	VFAIX
PFSQX	+ 0.97	SBFAX
PFSQX	+ 0.97	FNPIX

High negative correlations

PFSQX	- 0.0	FTIXX
PFSQX	- 0.0	MCBXX
FTIXX	- 0.0	MCBXX
FTIXX	- 0.0	FNPIX
MCBXX	- 0.0	FNPIX
FTIXX	- 0.0	GCFSX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VFAIX	0.74	0.03	0.09	0.14	0.50	(0.88)	1.77	(1.22)	8.51
IAAEX	0.52	(0.02)	(0.09)	0.09	0.46	(0.61)	1.03	(0.85)	3.17
SBFAX	0.79	0.19	0.09	(8.50)	0.54	(0.97)	1.72	(1.46)	8.60
GCFSX	0.64	0.03	0.03	0.14	0.53	(0.86)	1.52	(1.21)	6.07
FNPIX	1.06	0.26	0.12	(2.84)	0.87	(1.15)	2.09	(1.83)	11.72
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFSQX	0.76	0.01	0.06	0.12	0.56	(0.97)	1.55	(1.42)	8.42

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