Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
ASPZX Fund  USD 35.16  1.15  3.38%   
The current 90-days correlation between Alger Spectra and Qs Small Capitalization is 0.52 (i.e., Very weak 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

Poor diversification

The correlation between Alger Spectra Fund and DJI is 0.74 (i.e., Poor 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 nation.

Moving together with Alger Mutual Fund

  0.76AMGAX Alger Midcap GrowthPairCorr
  0.74AMGCX Alger Midcap GrowthPairCorr
  0.81AMGOX Alger Mid CapPairCorr
  0.71AOFYX Alger Small CapPairCorr
  0.71AOFIX Alger Small CapPairCorr
  0.66AOFAX Alger Small CapPairCorr
  0.7AOFCX Alger Small CapPairCorr
  0.85CHUSX Alger Global GrowthPairCorr
  0.88CHUCX Alger Global GrowthPairCorr
  0.97AAGOX Alger Large CapPairCorr
  1.0AAICX Alger Ai EnablersPairCorr
  0.93AAIZX Alger Ai EnablersPairCorr
  0.76ASCYX Alger FundsPairCorr
  0.76ASCZX Alger Smallcap GrowthPairCorr
  0.79AASOX Alger Small CapPairCorr
  0.87ASIRX Alger Smallcap GrowthPairCorr
  0.75ASIMX Alger Smidcap FocusPairCorr
  0.75ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  0.75ASYMX Alger Weatherbie SpePairCorr
  0.84ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.99ACARX Alger Capital ApprecPairCorr
  0.94ACAAX Alger Capital ApprecPairCorr
  0.92ATVPX Alger 35 FundPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.93CNEYX Alger Concentrated EquityPairCorr
  0.93CNEZX Alger Concentrated EquityPairCorr
  0.88AFGZX Alger Global GrowthPairCorr
  0.81AFGPX Alger InternationalPairCorr

Moving against Alger Mutual Fund

  0.52CNEIX Alger Concentrated EquityPairCorr

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.

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