Alger Funds Correlations

Mutual Funds . USA . 
Fund . Alger Funds Mid
AFOZX Fund  USD 18.77  0.26  1.40%   
The current 90-days correlation between Alger Funds Mid and Franklin High Yield is -0.1 (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

Poor diversification

The correlation between Alger Funds Mid and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Funds Mid 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 Funds Mid. 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
  1.0AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.95AOFYX Alger Small CapPairCorr
  0.95AOFIX Alger Small CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.95AOFCX Alger Small CapPairCorr
  0.94CHUSX Alger Global GrowthPairCorr
  0.93CHUCX Alger Global GrowthPairCorr
  0.99AAGOX Alger Large CapPairCorr
  0.97AAICX Alger Ai EnablersPairCorr
  0.97AAIZX Alger Ai EnablersPairCorr
  0.99AAIYX Alger Mid CapPairCorr
  0.89ASCYX Alger FundsPairCorr
  0.89ASCZX Alger Smallcap GrowthPairCorr
  0.86AASOX Alger Small CapPairCorr
  0.89ASIRX Alger Smallcap GrowthPairCorr
  0.81ASIMX Alger Smidcap FocusPairCorr
  0.81ASMZX Alger Smidcap FocusPairCorr
  0.97ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.81ASYMX Alger Weatherbie SpePairCorr
  0.89ABLOX Alger Balanced PortfolioPairCorr
  0.97ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  0.97ACAAX Alger Capital ApprecPairCorr
  0.99ATVPX Alger 35 FundPairCorr
  0.97ACIZX Alger Capital ApprecPairCorr
  0.98ADOCX Alger Dynamic OpportPairCorr
  0.98ADOZX Alger Dynamic OpportPairCorr
  0.96CNEIX Alger Concentrated EquityPairCorr
  0.96CNEYX Alger Concentrated EquityPairCorr
  0.97CNEZX Alger Concentrated EquityPairCorr
  0.94AFGZX Alger Global GrowthPairCorr

Moving against Alger Mutual Fund

  0.33AFGPX 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 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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