Alger Growth Correlations

Mutual Funds . USA . 
Fund . Alger Growth Income
ALBAX Fund  USD 94.49  2.13  2.31%   
The current 90-days correlation between Alger Growth Income and Alger Midcap Growth is 0.01 (i.e., Significant diversification). The correlation of Alger Growth 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 Growth Correlation With Market

Significant diversification

The correlation between Alger Growth Income and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Growth Income 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 Growth Income. 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

  0.64AAIZX Alger Ai EnablersPairCorr
  0.72ASCYX Alger FundsPairCorr
  0.62ASCZX Alger Smallcap GrowthPairCorr
  0.75AASOX Alger Small CapPairCorr
  0.75ASIRX Alger Smallcap GrowthPairCorr
  0.8ASIMX Alger Smidcap FocusPairCorr
  0.8ASYMX Alger Weatherbie SpePairCorr
  0.63ACAYX Alger Capital ApprecPairCorr
  0.61ACARX Alger Capital ApprecPairCorr
  0.65ACAAX Alger Capital ApprecPairCorr
  0.68ACEMX Alger Emerging MarketsPairCorr
  0.63ACIZX Alger Capital ApprecPairCorr
  0.66ADOCX Alger Dynamic OpportPairCorr
  0.65CNEYX Alger Concentrated EquityPairCorr
  0.65CNEZX Alger Concentrated EquityPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Growth 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 Growth'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMGAX  0.99 (0.09)(0.06) 0.01  1.27 
(1.01)
 1.50 
(2.02)
 4.38 
AMGCX  0.98 (0.02)(0.07)(0.01) 1.25 
(1.05)
 1.60 
(2.29)
 4.66 
AMGOX  0.99 (0.07)(0.05) 0.03  1.23 
(1.06)
 1.51 
(2.14)
 4.85 
AOFYX  1.31  0.02  0.03  0.11  1.55 
(1.34)
 2.49 
(2.43)
 7.97 
AOFIX  1.25  0.01  0.02  0.10  1.56 
(1.25)
 2.37 
(2.33)
 7.15 
AOFAX  1.25 (0.01) 0.01  0.08  1.56 
(1.25)
 2.41 
(2.29)
 7.12 
AOFCX  1.25  0.01  0.02  0.10  1.56 
(1.25)
 2.39 
(2.37)
 7.10 
CHUSX  0.99  0.10  0.07  0.20  1.01 
(1.11)
 1.58 
(2.04)
 9.68 
CHUCX  0.98  0.11  0.07  0.23  1.02 
(1.10)
 1.52 
(2.04)
 11.36 
AAEMX  0.64  0.04  0.02  0.15  0.65 
(0.72)
 1.45 
(1.28)
 3.54 

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