Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
ASPIX Fund  USD 33.85  0.51  1.53%   
The current 90-days correlation between Alger Spectra and Smead Value Fund is 0.08 (i.e., Significant diversification). 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

Good diversification

The correlation between Alger Spectra Fund and DJI is -0.04 (i.e., Good 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 gross domestic product.

Moving together with Alger Mutual Fund

  0.7AMGAX Alger Midcap GrowthPairCorr
  0.71AMGCX Alger Midcap GrowthPairCorr
  0.78AMGOX Alger Mid CapPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.64ASCYX Alger FundsPairCorr
  0.64ASCZX Alger Smallcap GrowthPairCorr
  0.65AASOX Alger Small CapPairCorr
  0.68ASIMX Alger Smidcap FocusPairCorr
  0.67ASMZX Alger Smidcap FocusPairCorr
  0.61ASPZX Alger SpectraPairCorr
  0.61ASPYX Alger SpectraPairCorr
  0.67ASYMX Alger Weatherbie SpePairCorr
  0.61ACAYX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.94ADOZX Alger Dynamic OpportPairCorr

Moving against Alger Mutual Fund

  0.39AAEMX Alger Emerging MarketsPairCorr
  0.39ACEMX Alger Emerging MarketsPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HFMSX  0.89 (0.06)(0.04) 0.04  1.18 
(0.85)
 1.68 
(2.11)
 5.74 
HFMVX  1.23  0.21  0.23  0.20  0.88 
(1.45)
 1.84 
(2.12)
 25.10 
SVFFX  0.75  0.09  0.10  0.19  0.59 
(0.83)
 2.09 
(1.39)
 3.79 
SVFYX  0.75  0.09  0.10  0.19  0.59 
(0.83)
 2.09 
(1.39)
 3.80 
SVFKX  0.75  0.09  0.09  0.19  0.60 
(0.87)
 2.08 
(1.39)
 3.79 
FRSGX  0.79 (0.08)(0.06) 0.02  1.06 
(0.78)
 1.37 
(1.94)
 5.21 
SPINX  0.74  0.18  0.18  0.32  0.43 
(0.93)
 1.16 
(1.24)
 15.28 
CTHRX  1.00 (0.02)(0.01) 0.07  1.60 
(0.89)
 1.71 
(2.67)
 6.21 
SVFAX  0.76  0.19  0.11 (2.20) 0.60 
(0.87)
 2.08 
(1.39)
 3.79 
SVFDX  0.75  0.09  0.09  0.19  0.60 
(0.85)
 2.08 
(1.41)
 3.79 

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