Alger Growth Correlations

ALBAX Fund

USD 94.00 0.10 0.11%

The current 90-days correlation between Alger Growth Income and T Rowe Price is 0.29 (i.e., Modest 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

Very poor diversification

The correlation between Alger Growth Income and DJI is 0.87 (i.e., Very 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 signals in nation.

Moving together with Alger Mutual Fund

0.73	AOFYX	Alger Small Cap	Pair Corr
0.73	AOFIX	Alger Small Cap	Pair Corr
0.73	AOFAX	Alger Small Cap	Pair Corr
0.72	AOFCX	Alger Small Cap	Pair Corr
0.75	CHUSX	Alger Global Growth	Pair Corr
0.73	CHUCX	Alger Global Growth	Pair Corr
0.8	AAEMX	Alger Emerging Markets	Pair Corr
0.62	AAGOX	Alger Large Cap	Pair Corr
0.7	ASCYX	Alger Funds	Pair Corr
0.7	ASCZX	Alger Smallcap Growth	Pair Corr
0.68	AASOX	Alger Small Cap	Pair Corr
0.69	ASIRX	Alger Smallcap Growth	Pair Corr
0.65	ASIMX	Alger Smidcap Focus	Pair Corr
0.65	ASMZX	Alger Smidcap Focus	Pair Corr
0.65	ASYMX	Alger Weatherbie Spe	Pair Corr
0.69	ABLOX	Alger Balanced Portfolio	Pair Corr
0.8	ACEMX	Alger Emerging Markets	Pair Corr
0.62	CNEYX	Alger Concentrated Equity	Pair Corr
0.62	CNEZX	Alger Concentrated Equity	Pair Corr
0.76	AFGZX	Alger Global Growth	Pair Corr
0.7	AFGPX	Alger International	Pair Corr

Moving against Alger Mutual Fund

0.33

CNEIX

Alger Concentrated Equity

Pair Corr

Related Correlations Analysis

	LHYOX	FAGIX	FHYIX	TAHYX	PAHIX
LHYOX		0.96	0.79	0.97	0.99	LHYOX
FAGIX	0.96		0.83	0.97	0.97	FAGIX
FHYIX	0.79	0.83		0.89	0.83	FHYIX
TAHYX	0.97	0.97	0.89		0.98	TAHYX
PAHIX	0.99	0.97	0.83	0.98		PAHIX
	LHYOX	FAGIX	FHYIX	TAHYX	PAHIX

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
LHYOX	0.13	0.01	(0.20)	0.17	0.00	(0.21)	0.16	(0.16)	1.11
FAGIX	0.29	0.02	(0.05)	0.14	0.28	(0.32)	0.56	(0.64)	1.46
FHYIX	0.09	0.02	(0.21)	0.82	0.00	(0.14)	0.22	(0.22)	0.66
TAHYX	0.11	0.02	(0.23)	0.34	0.00	(0.18)	0.23	(0.23)	0.80
PAHIX	0.12	0.01	(0.22)	0.30	0.00	(0.24)	0.17	(0.17)	1.02

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