Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ACIZX Fund  USD 51.13  0.05  0.1%   
The current 90-days correlation between Alger Capital Apprec and Tax Managed Large Cap is 0.87 (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 0.58 (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 nation.

Moving together with Alger Mutual Fund

  0.99AMGAX Alger Midcap GrowthPairCorr
  0.99AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.95AOFYX Alger Small CapPairCorr
  0.95AOFIX Alger Small CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.94AOFCX Alger Small CapPairCorr
  0.95CHUSX Alger Global GrowthPairCorr
  0.94CHUCX Alger Global GrowthPairCorr
  1.0AAGOX Alger Large CapPairCorr
  0.97AAICX Alger Ai EnablersPairCorr
  1.0AAIZX Alger Ai EnablersPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.89ASCYX Alger FundsPairCorr
  0.89ASCZX Alger Smallcap GrowthPairCorr
  0.87AASOX Alger Small CapPairCorr
  0.89ASIRX Alger Smallcap GrowthPairCorr
  0.8ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.8ASYMX Alger Weatherbie SpePairCorr
  0.9ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  0.99ATVPX Alger 35 FundPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.95AFGZX Alger Global GrowthPairCorr
  0.95AFGIX Alger Global GrowthPairCorr

Moving against Alger Mutual Fund

  0.43AHSAX Alger Health SciencesPairCorr
  0.42AHSCX Alger Health SciencesPairCorr
  0.42AHSZX Alger Health SciencesPairCorr
  0.37AFGPX Alger InternationalPairCorr
  0.37AIGIX Alger InternationalPairCorr

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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