Alger Funds Correlations

Mutual Funds . USA . 
Fund . The Alger Funds
ASCYX Fund  USD 9.50  0.02  0.21%   
The current 90-days correlation between Alger Funds and Goldman Sachs Clean is -0.16 (i.e., Good diversification). The correlation of Alger Funds 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 Funds Correlation With Market

Very weak diversification

The correlation between The Alger Funds and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Alger Funds 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 The Alger Funds. 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 manufacturing.

Moving together with Alger Mutual Fund

  0.72AMGAX Alger Midcap GrowthPairCorr
  0.89AMGCX Alger Midcap GrowthPairCorr
  0.86AMGOX Alger Mid CapPairCorr
  0.98AOFYX Alger Small CapPairCorr
  0.98AOFIX Alger Small CapPairCorr
  0.72AOFAX Alger Small CapPairCorr
  0.67AOFCX Alger Small CapPairCorr
  0.9CHUSX Alger Global GrowthPairCorr
  0.72CHUCX Alger Global GrowthPairCorr
  0.77AAGOX Alger Large CapPairCorr
  0.91AAICX Alger Ai EnablersPairCorr
  0.91AAIZX Alger Ai EnablersPairCorr
  0.91AAIYX Alger Mid CapPairCorr
  0.94ASCZX Alger Smallcap GrowthPairCorr
  0.69AASOX Alger Small CapPairCorr
  1.0ASIRX Alger Smallcap GrowthPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.98ASMZX Alger Smidcap FocusPairCorr
  0.76ASPCX Alger SpectraPairCorr
  0.76ASPZX Alger SpectraPairCorr
  0.91ASPYX Alger SpectraPairCorr
  0.76ASPIX Alger SpectraPairCorr
  0.98ASYMX Alger Weatherbie SpePairCorr
  0.69ABLOX Alger Balanced PortfolioPairCorr
  0.92ACAYX Alger Capital ApprecPairCorr
  0.77ACAZX Alger Capital ApprecPairCorr
  0.77ACARX Alger Capital ApprecPairCorr
  0.77ACAAX Alger Capital ApprecPairCorr
  0.79ATVPX Alger 35 FundPairCorr
  0.92ACIZX Alger Capital ApprecPairCorr
  0.77ADOCX Alger Dynamic OpportPairCorr
  0.78ADOZX Alger Dynamic OpportPairCorr
  0.91CNEIX Alger Concentrated EquityPairCorr
  0.91CNEYX Alger Concentrated EquityPairCorr
  0.71CNEZX Alger Concentrated EquityPairCorr
  0.9AFGZX 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 Funds 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 Funds' 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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