Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ALZFX Fund  USD 79.34  0.26  0.33%   
The current 90-days correlation between Alger Capital Apprec and Alger Small Cap is 0.85 (i.e., Very poor 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 0.55 (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 census.

Moving together with Alger Mutual Fund

  0.97AMGAX Alger Midcap GrowthPairCorr
  0.97AMGCX Alger Midcap GrowthPairCorr
  0.97AMGOX Alger Mid CapPairCorr
  0.92AOFYX Alger Small CapPairCorr
  0.88AOFIX Alger Small CapPairCorr
  0.92AOFAX Alger Small CapPairCorr
  0.91CHUSX Alger Global GrowthPairCorr
  0.98CHUCX Alger Global GrowthPairCorr
  0.9ASCZX Alger Smallcap GrowthPairCorr
  0.9AASOX Alger Small CapPairCorr
  0.87ASIMX Alger Smidcap FocusPairCorr
  0.85ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.87ASYMX Alger Weatherbie SpePairCorr
  0.93ACAYX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.93ADOZX Alger Dynamic OpportPairCorr
  0.93CNEIX Alger Concentrated EquityPairCorr
  0.93CNEYX Alger Concentrated EquityPairCorr
  0.93CNEZX Alger Concentrated EquityPairCorr
  0.98AFOIX Alger Mid CapPairCorr
  0.98AFOZX Alger Funds MidPairCorr
  0.92AGIZX Alger Growth IncomePairCorr
  0.99AGIFX Alger ResponsiblePairCorr
  0.92AGOZX Alger Small CapPairCorr
  0.88AGSCX Alger Smallcap GrowthPairCorr
  0.76AHSCX Alger Health SciencesPairCorr
  0.76AHSZX Alger Health SciencesPairCorr
  0.94AIFAX Alger Ai EnablersPairCorr
  0.92AIGOX Alger Growth IncomePairCorr
  1.0SPECX Alger SpectraPairCorr
  0.93SPEDX Alger Dynamic OpportPairCorr
  0.99SPEGX Alger ResponsiblePairCorr
  0.83ALBAX 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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