Alger Spectra Correlations

ASPCX Fund

USD 24.29 0.50 2.02%

The correlation of Alger Spectra 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 Spectra Correlation With Market

Very weak diversification

The correlation between Alger Spectra Fund and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra Fund 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 Spectra Fund. 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 unemployment.

Moving together with Alger Mutual Fund

0.63	AMGAX	Alger Midcap Growth	Pair Corr
0.77	CHUSX	Alger Global Growth	Pair Corr
0.78	CHUCX	Alger Global Growth	Pair Corr
0.98	AAGOX	Alger Large Cap	Pair Corr
0.98	AAICX	Alger Ai Enablers Potential Growth	Pair Corr
0.98	AAIZX	Alger Ai Enablers Potential Growth	Pair Corr
0.66	AASOX	Alger Small Cap	Pair Corr
0.85	ASIRX	Alger Smallcap Growth	Pair Corr
0.98	ASPZX	Alger Spectra	Pair Corr
0.98	ASPYX	Alger Spectra	Pair Corr
0.98	ACAYX	Alger Capital Apprec	Pair Corr
1.0	ACAZX	Alger Capital Apprec	Pair Corr
1.0	ACARX	Alger Capital Apprec	Pair Corr
0.92	ATVPX	Alger 35 Fund	Pair Corr
0.98	ACIZX	Alger Capital Apprec	Pair Corr
0.99	CNEYX	Alger Concentrated Equity Potential Growth	Pair Corr
0.99	CNEZX	Alger Concentrated Equity Potential Growth	Pair Corr
0.77	AFGZX	Alger Global Growth	Pair Corr
0.77	AFGIX	Alger Global Growth	Pair Corr

Moving against Alger Mutual Fund

0.44

CNEIX

Alger Concentrated Equity

Pair Corr

Related Correlations Analysis

	LFLCX	DBLGX	TEDIX	MSTGX	AWF	CABIX	ANAGX	APDPX
LFLCX		0.88	0.93	0.94	0.12	0.89	0.74	0.96	LFLCX
DBLGX	0.88		0.89	0.95	0.13	0.84	0.83	0.92	DBLGX
TEDIX	0.93	0.89		0.96	0.18	0.95	0.78	0.96	TEDIX
MSTGX	0.94	0.95	0.96		0.07	0.89	0.85	0.98	MSTGX
AWF	0.12	0.13	0.18	0.07		0.07	0.03	0.04	AWF
CABIX	0.89	0.84	0.95	0.89	0.07		0.71	0.94	CABIX
ANAGX	0.74	0.83	0.78	0.85	0.03	0.71		0.79	ANAGX
APDPX	0.96	0.92	0.96	0.98	0.04	0.94	0.79		APDPX
	LFLCX	DBLGX	TEDIX	MSTGX	AWF	CABIX	ANAGX	APDPX

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Spectra 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 Spectra'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
LFLCX	0.13	0.02	(0.27)	0.24	0.00	(0.20)	0.32	(0.22)	0.75
DBLGX	0.19	0.04	(0.14)	0.77	0.00	(0.24)	0.45	(0.23)	1.45
TEDIX	0.44	0.11	0.13	0.25	0.26	(0.48)	1.15	(0.66)	2.96
MSTGX	0.22	0.11	0.17	0.54	0.00	(0.29)	0.58	(0.30)	1.30
AWF	0.26	(0.03)	0.00	(0.06)	0.00	0.00	0.56	(0.57)	1.52
CABIX	0.41	0.12	0.16	0.30	0.18	(0.52)	0.83	(0.74)	5.68
ANAGX	0.10	0.01	(0.32)	0.50	0.00	(0.17)	0.29	(0.29)	0.58
APDPX	0.11	0.08	(0.04)	(2.25)	0.00	(0.17)	0.28	(0.18)	0.82

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