Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
ASPCX Fund  USD 20.41  0.14  0.69%   
The current 90-days correlation between Alger Spectra and Tiaa Cref Lifecycle Retirement is 0.77 (i.e., Poor diversification). The correlation of Alger Spectra 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 Spectra Correlation With Market

Very weak diversification

The correlation between Alger Spectra Fund and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra Fund 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 Spectra Fund. 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

  0.97AMGAX Alger Midcap GrowthPairCorr
  0.97AMGCX Alger Midcap GrowthPairCorr
  0.97AMGOX Alger Mid CapPairCorr
  0.93AOFYX Alger Small CapPairCorr
  0.93AOFIX Alger Small CapPairCorr
  0.93AOFAX Alger Small CapPairCorr
  0.98CHUSX Alger Global GrowthPairCorr
  0.98CHUCX Alger Global GrowthPairCorr
  0.92ASCZX Alger Smallcap GrowthPairCorr
  0.91AASOX Alger Small CapPairCorr
  0.88ASIMX Alger Smidcap FocusPairCorr
  0.88ASMZX Alger Smidcap FocusPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.88ASYMX Alger Weatherbie SpePairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.93ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.99AFOIX Alger Mid CapPairCorr
  0.99AFOZX Alger Funds MidPairCorr
  0.92AGIZX Alger Growth IncomePairCorr
  0.99AGIFX Alger ResponsiblePairCorr
  0.93AGOZX Alger Small CapPairCorr
  0.91AGSCX Alger Smallcap GrowthPairCorr
  0.78AHSCX Alger Health SciencesPairCorr
  0.78AHSZX Alger Health SciencesPairCorr
  0.99AIFAX Alger Ai EnablersPairCorr
  0.92AIGOX Alger Growth IncomePairCorr
  1.0SPECX Alger SpectraPairCorr
  0.93SPEDX Alger Dynamic OpportPairCorr
  0.99SPEGX 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 Spectra 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 Spectra'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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