Alger International Correlations

Mutual Funds USA . 
Fund . Alger International Growth
ALGAX Fund  USD 20.15  0.16  0.80%   
The current 90-days correlation between Alger International and Siit Emerging Markets is 0.71 (i.e., Poor diversification). The correlation of Alger International 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 International Correlation With Market

Very weak diversification

The correlation between Alger International Growth and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger International Growth 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 International Growth. 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

  0.78AAEMX Alger Emerging MarketsPairCorr
  0.79ACEMX Alger Emerging MarketsPairCorr
  1.0AFGPX Alger InternationalPairCorr

Moving against Alger Mutual Fund

  0.48ASYMX Alger Weatherbie SpePairCorr
  0.46AOFIX Alger Small CapPairCorr
  0.46AOFAX Alger Small CapPairCorr
  0.46AOFCX Alger Small CapPairCorr
  0.46ASIMX Alger Smidcap FocusPairCorr
  0.45AMGCX Alger Midcap GrowthPairCorr
  0.45AOFYX Alger Small CapPairCorr
  0.45AAIZX Alger Ai EnablersPairCorr
  0.45ASMZX Alger Smidcap FocusPairCorr
  0.45ASPYX Alger SpectraPairCorr
  0.44AMGAX Alger Midcap GrowthPairCorr
  0.44AMGOX Alger Mid CapPairCorr
  0.44AAICX Alger Ai EnablersPairCorr
  0.42AAGOX Alger Large CapPairCorr
  0.42ASPCX Alger SpectraPairCorr
  0.42ASPZX Alger SpectraPairCorr
  0.42ASPIX Alger SpectraPairCorr
  0.42ACAYX Alger Capital ApprecPairCorr
  0.42ACAZX Alger Capital ApprecPairCorr
  0.42ACARX Alger Capital ApprecPairCorr
  0.42ACAAX Alger Capital ApprecPairCorr
  0.49SPEDX Alger Dynamic OpportPairCorr
  0.48ADOCX Alger Dynamic OpportPairCorr
  0.48ADOZX Alger Dynamic OpportPairCorr
  0.48AFOIX Alger Mid CapPairCorr
  0.47AFOZX Alger Funds MidPairCorr
  0.45AGOZX Alger Small CapPairCorr
  0.45AIFIX Salient Investment GradePairCorr
  0.45AIFAX Alger Ai EnablersPairCorr
  0.42ATVPX Alger 35 FundPairCorr
  0.42ACIZX Alger Capital ApprecPairCorr
  0.42CNEIX Alger Concentrated EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger International 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 International'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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