Alger Global Correlations

Mutual Funds . USA . 
Fund . Alger Global Growth
CHUCX Fund  USD 29.88  0.09  0.30%   
The current 90-days correlation between Alger Global Growth and Alger Midcap Growth is 0.89 (i.e., Very poor diversification). The correlation of Alger Global 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 Global Correlation With Market

Poor diversification

The correlation between Alger Global Growth and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Global 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 Global 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 main economic indicators.

Moving together with Alger Mutual Fund

  0.94AMGAX Alger Midcap GrowthPairCorr
  0.94AMGCX Alger Midcap GrowthPairCorr
  0.94AMGOX Alger Mid CapPairCorr
  0.93AOFYX Alger Small CapPairCorr
  0.92AOFIX Alger Small CapPairCorr
  0.92AOFAX Alger Small CapPairCorr
  0.92AOFCX Alger Small CapPairCorr
  1.0CHUSX Alger Global GrowthPairCorr
  0.94AAGOX Alger Large CapPairCorr
  0.9AAICX Alger Ai EnablersPairCorr
  0.94AAIZX Alger Ai EnablersPairCorr
  0.9AAIYX Alger Mid CapPairCorr
  0.95ASCYX Alger FundsPairCorr
  0.95ASCZX Alger Smallcap GrowthPairCorr
  0.95AASOX Alger Small CapPairCorr
  0.95ASIRX Alger Smallcap GrowthPairCorr
  0.83ASIMX Alger Smidcap FocusPairCorr
  0.83ASMZX Alger Smidcap FocusPairCorr
  0.94ASPCX Alger SpectraPairCorr
  0.94ASPZX Alger SpectraPairCorr
  0.94ASPYX Alger SpectraPairCorr
  0.94ASPIX Alger SpectraPairCorr
  0.83ASYMX Alger Weatherbie SpePairCorr
  0.95ABLOX Alger Balanced PortfolioPairCorr
  0.94ACAYX Alger Capital ApprecPairCorr
  0.94ACAZX Alger Capital ApprecPairCorr
  0.94ACARX Alger Capital ApprecPairCorr
  0.94ACAAX Alger Capital ApprecPairCorr
  0.93ATVPX Alger 35 FundPairCorr
  0.94ACIZX Alger Capital ApprecPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.93ADOZX Alger Dynamic OpportPairCorr
  0.94CNEIX Alger Concentrated EquityPairCorr
  0.94CNEYX Alger Concentrated EquityPairCorr
  0.94CNEZX Alger Concentrated EquityPairCorr
  1.0AFGZX Alger Global GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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