Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ALCFX Fund  USD 67.75  1.92  2.92%   
The current 90-days correlation between Alger Capital Apprec and Alger Capital Appreciation is -0.14 (i.e., Good 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 -0.1 (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 census.

Moving together with Alger Mutual Fund

  0.91AMGAX Alger Midcap GrowthPairCorr
  0.91AMGCX Alger Midcap GrowthPairCorr
  0.91AMGOX Alger Mid CapPairCorr
  0.88AOFYX Alger Small CapPairCorr
  0.92AOFIX Alger Small CapPairCorr
  0.88AOFAX Alger Small CapPairCorr
  0.98CHUSX Alger Global GrowthPairCorr
  0.93CHUCX Alger Global GrowthPairCorr
  0.87ASCZX Alger Smallcap GrowthPairCorr
  0.86AASOX Alger Small CapPairCorr
  0.83ASIMX Alger Smidcap FocusPairCorr
  0.88ASMZX Alger Smidcap FocusPairCorr
  0.94ASPCX Alger SpectraPairCorr
  0.94ASPZX Alger SpectraPairCorr
  0.94ASPIX Alger SpectraPairCorr
  0.84ASYMX Alger Weatherbie SpePairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  0.94ACAAX Alger Capital ApprecPairCorr
  0.94ACIZX Alger Capital ApprecPairCorr
  0.86ADOCX Alger Dynamic OpportPairCorr
  0.86ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.93AFOIX Alger Mid CapPairCorr
  0.93AFOZX Alger Funds MidPairCorr
  0.89AGIZX Alger Growth IncomePairCorr
  0.94AGIFX Alger ResponsiblePairCorr
  0.88AGOZX Alger Small CapPairCorr
  0.9AGSCX Alger Smallcap GrowthPairCorr
  0.75AHSCX Alger Health SciencesPairCorr
  0.75AHSZX Alger Health SciencesPairCorr
  1.0AIFAX Alger Ai EnablersPairCorr
  0.89AIGOX Alger Growth IncomePairCorr
  0.94SPECX Alger SpectraPairCorr
  0.86SPEDX Alger Dynamic OpportPairCorr
  0.94SPEGX Alger ResponsiblePairCorr
  0.92ALBAX Alger Growth IncomePairCorr

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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