Alger Emerging Correlations

Mutual Funds . USA . 
Fund . Alger Emerging Markets
ACEMX Fund  USD 9.98  0.11  1.09%   
The current 90-days correlation between Alger Emerging Markets and Ashmore Emerging Markets is 0.38 (i.e., Weak diversification). The correlation of Alger Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Alger Emerging Markets and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Alger Mutual Fund

  0.62CHUSX Alger Global GrowthPairCorr
  0.63CHUCX Alger Global GrowthPairCorr
  1.0AAEMX Alger Emerging MarketsPairCorr
  0.62AFGZX Alger Global GrowthPairCorr
  0.8AFGPX Alger InternationalPairCorr

Moving against Alger Mutual Fund

  0.46AAIZX Alger Ai EnablersPairCorr
  0.46AAIYX Alger Mid CapPairCorr
  0.45AAICX Alger Ai EnablersPairCorr
  0.42AAGOX Alger Large CapPairCorr
  0.53ATVPX Alger 35 FundPairCorr
  0.53CNEIX Alger Concentrated EquityPairCorr
  0.53CNEYX Alger Concentrated EquityPairCorr
  0.53CNEZX Alger Concentrated EquityPairCorr
  0.49ADOZX Alger Dynamic OpportPairCorr
  0.48ADOCX Alger Dynamic OpportPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
ARTYX
+ 0.85
IGIEX
RYDCX
+ 0.65
IGIEX
RYDCX
+ 0.65
ARTYX
ZEMIX
+ 0.39
IGIEX
ZEMIX
+ 0.3
ARTYX
RYDCX
+ 0.12
ZEMIX
  
High negative correlations   
RYMBX
- 0.34
IGIEX
ARTYX
- 0.27
RYMBX
RYDCX
- 0.13
RYMBX
ZEMIX
- 0.06
RYMBX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Emerging 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 Emerging'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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