Alger Growth Correlations

ALBAX Fund

USD 92.90 0.54 0.58%

The current 90-days correlation between Alger Growth Income and Harbor Small Cap is 0.6 (i.e., Poor 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

Poor diversification

The correlation between Alger Growth Income and DJI is 0.7 (i.e., Poor 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 various price indices.

Moving together with Alger Mutual Fund

0.68	VTSAX	Vanguard Total Stock	Pair Corr
0.79	VFIAX	Vanguard 500 Index	Pair Corr
0.82	VTSMX	Vanguard Total Stock	Pair Corr
0.82	VITSX	Vanguard Total Stock	Pair Corr
0.82	VSMPX	Vanguard Total Stock	Pair Corr
0.68	VSTSX	Vanguard Total Stock	Pair Corr
0.91	VFINX	Vanguard 500 Index	Pair Corr
0.64	VFFSX	Vanguard 500 Index	Pair Corr
0.79	VINIX	Vanguard Institutional	Pair Corr
0.91	VIIIX	Vanguard Institutional	Pair Corr
0.64	EKWAX	Wells Fargo Advantage Steady Growth	Pair Corr
0.64	FSAGX	Gold Portfolio Gold Steady Growth	Pair Corr
0.64	FKRCX	Franklin Gold Precious Steady Growth	Pair Corr
0.64	USAGX	Precious Metals And Steady Growth	Pair Corr
0.65	OPGSX	Oppenheimer Gold Spec Steady Growth	Pair Corr
0.64	GOLDX	Gabelli Gold Steady Growth	Pair Corr
0.63	UNWPX	World Precious Minerals	Pair Corr
0.61	RWICX	Capital World Growth	Pair Corr
0.83	AOFAX	Alger Small Cap	Pair Corr
0.68	TRRVX	T Rowe Price	Pair Corr
0.74	PATRX	Pimco All Asset	Pair Corr
0.86	FFOLX	Fidelity Freedom Index	Pair Corr
0.71	PAUPX	Pimco All Asset	Pair Corr
0.71	PAUIX	Pimco All Asset	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.64	BA	Boeing Earnings Call This Week	Pair Corr
0.67	WMT	Walmart Common Stock	Pair Corr

Moving against Alger Mutual Fund

0.37	PG	Procter Gamble	Pair Corr
0.34	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TRHBX	ARSKX	GIMFX	EICVX	ARTQX	FARIX	HSVRX
TRHBX		0.81	0.91	0.89	0.93	0.9	0.98	TRHBX
ARSKX	0.81		0.85	0.73	0.76	0.91	0.84	ARSKX
GIMFX	0.91	0.85		0.92	0.92	0.97	0.95	GIMFX
EICVX	0.89	0.73	0.92		0.94	0.89	0.89	EICVX
ARTQX	0.93	0.76	0.92	0.94		0.88	0.93	ARTQX
FARIX	0.9	0.91	0.97	0.89	0.88		0.93	FARIX
HSVRX	0.98	0.84	0.95	0.89	0.93	0.93		HSVRX
	TRHBX	ARSKX	GIMFX	EICVX	ARTQX	FARIX	HSVRX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TRHBX	0.91	0.09	0.09	0.17	0.92	(1.01)	1.98	(1.81)	4.73
ARSKX	0.80	0.24	0.25	0.53	0.34	(0.98)	1.19	(1.17)	15.87
GIMFX	0.29	0.09	0.09	0.34	0.00	(0.38)	0.81	(0.48)	1.68
EICVX	0.67	0.19	0.19	1.09	0.17	(0.83)	1.31	(0.84)	8.80
ARTQX	0.82	0.09	0.13	0.18	0.56	(1.02)	1.86	(1.10)	10.44
FARIX	0.52	0.11	0.08	0.39	0.34	(0.62)	1.07	(0.89)	3.57
HSVRX	0.90	0.16	0.19	0.22	0.66	(1.10)	2.47	(1.60)	5.28

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