Alger International Correlations

ALGAX Fund

USD 19.44 0.25 1.27%

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

Modest diversification

The correlation between Alger International Growth and DJI is 0.24 (i.e., Modest 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

0.91	CHUSX	Alger Global Growth	Pair Corr
0.91	CHUCX	Alger Global Growth	Pair Corr
0.81	AAEMX	Alger Emerging Markets	Pair Corr
0.7	ACAYX	Alger Capital Apprec	Pair Corr
0.68	ACAZX	Alger Capital Apprec	Pair Corr
0.82	ACARX	Alger Capital Apprec	Pair Corr
0.72	ACAAX	Alger Capital Apprec	Pair Corr
0.82	ACEMX	Alger Emerging Markets	Pair Corr
0.7	ACIZX	Alger Capital Apprec	Pair Corr
0.91	AFGZX	Alger Global Growth	Pair Corr
1.0	AFGPX	Alger International	Pair Corr

Moving against Alger Mutual Fund

0.42	AAGOX	Alger Large Cap	Pair Corr
0.38	AAIZX	Alger Ai Enablers	Pair Corr
0.38	AAIYX	Alger Mid Cap	Pair Corr
0.37	AAICX	Alger Ai Enablers	Pair Corr
0.54	CNEZX	Alger Concentrated Equity	Pair Corr
0.53	CNEIX	Alger Concentrated Equity	Pair Corr
0.53	CNEYX	Alger Concentrated Equity	Pair Corr
0.51	ATVPX	Alger 35 Fund	Pair Corr
0.44	ADOZX	Alger Dynamic Opport	Pair Corr
0.43	ADOCX	Alger Dynamic Opport	Pair Corr
0.38	AIFAX	Alger Ai Enablers	Pair Corr

Related Correlations Analysis

	CREMX	FIKMX	FORFX	VUVAF	VGSIX	TIREX	NRSCX
CREMX		-0.49	0.98	0.0	-0.71	-0.72	0.4	CREMX
FIKMX	-0.49		-0.46	0.0	0.93	0.92	0.01	FIKMX
FORFX	0.98	-0.46		0.0	-0.69	-0.7	0.4	FORFX
VUVAF	0.0	0.0	0.0		0.0	0.0	0.0	VUVAF
VGSIX	-0.71	0.93	-0.69	0.0		1.0	-0.1	VGSIX
TIREX	-0.72	0.92	-0.7	0.0	1.0		-0.12	TIREX
NRSCX	0.4	0.01	0.4	0.0	-0.1	-0.12		NRSCX
	CREMX	FIKMX	FORFX	VUVAF	VGSIX	TIREX	NRSCX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TIREX	+ 1.0	VGSIX
FORFX	+ 0.98	CREMX
VGSIX	+ 0.93	FIKMX
TIREX	+ 0.92	FIKMX
NRSCX	+ 0.4	CREMX
NRSCX	+ 0.4	FORFX

High negative correlations

TIREX	- 0.72	CREMX
VGSIX	- 0.71	CREMX
TIREX	- 0.7	FORFX
VGSIX	- 0.69	FORFX
FIKMX	- 0.49	CREMX
FORFX	- 0.46	FIKMX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CREMX	0.03	0.01	2.41	0.08	0.00	0.68
FIKMX	0.26	(0.03)	(0.11)	0.59	(0.58)	1.59
FORFX	0.07	0.03	11.07	0.11	0.00	0.32
VUVAF	0.00	0.00	0.00	0.00	0.00	0.00
VGSIX	0.91	(0.13)	(0.17)	1.48	(1.71)	5.53
TIREX	0.88	(0.12)	(0.18)	1.45	(1.78)	5.42
NRSCX	0.24	(0.04)	(0.52)	0.43	(0.43)	3.00

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