Alger Concentrated Correlations

Mutual Funds . USA . 
Fund . Alger Concentrated Equity
CNEZX Fund   12.44  0.38  3.15%   
The current 90-days correlation between Alger Concentrated Equity and Ab Global Bond is 0.03 (i.e., Significant diversification). The correlation of Alger Concentrated 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 Concentrated Correlation With Market

Good diversification

The correlation between Alger Concentrated Equity and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Concentrated Equity 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 Concentrated Equity. 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 nation.

Moving together with Alger Mutual Fund

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