Alger Concentrated Correlations

CNEZX Fund

12.83 0.02 0.16%

The current 90-days correlation between Alger Concentrated Equity and Europacific Growth Fund is 0.64 (i.e., Poor diversification). The correlation of Alger Concentrated 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alger Concentrated Equity. 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

0.96	AMGAX	Alger Midcap Growth	Pair Corr
0.96	AMGCX	Alger Midcap Growth	Pair Corr
0.99	AMGOX	Alger Mid Cap	Pair Corr
0.9	AOFYX	Alger Small Cap	Pair Corr
0.9	AOFIX	Alger Small Cap	Pair Corr
0.9	AOFAX	Alger Small Cap	Pair Corr
0.9	AOFCX	Alger Small Cap	Pair Corr
0.91	CHUSX	Alger Global Growth	Pair Corr
0.97	AAGOX	Alger Large Cap	Pair Corr
1.0	AAICX	Alger Ai Enablers	Pair Corr
1.0	AAIZX	Alger Ai Enablers	Pair Corr
0.97	AAIYX	Alger Mid Cap	Pair Corr
0.81	AASOX	Alger Small Cap	Pair Corr
0.83	ASIRX	Alger Smallcap Growth	Pair Corr
0.72	ASIMX	Alger Smidcap Focus	Pair Corr
0.72	ASMZX	Alger Smidcap Focus	Pair Corr
1.0	ASPCX	Alger Spectra	Pair Corr
0.97	ASPZX	Alger Spectra	Pair Corr
0.97	ASPYX	Alger Spectra	Pair Corr
0.97	ASPIX	Alger Spectra	Pair Corr
1.0	ACAYX	Alger Capital Apprec	Pair Corr
0.97	ACAZX	Alger Capital Apprec	Pair Corr
1.0	ACARX	Alger Capital Apprec	Pair Corr
1.0	ACAAX	Alger Capital Apprec	Pair Corr
0.97	ATVPX	Alger 35 Fund	Pair Corr
0.93	ADOCX	Alger Dynamic Opport	Pair Corr
0.93	ADOZX	Alger Dynamic Opport	Pair Corr
1.0	CNEIX	Alger Concentrated Equity	Pair Corr
1.0	CNEYX	Alger Concentrated Equity	Pair Corr
0.91	AFGZX	Alger Global Growth	Pair Corr
0.97	AFOZX	Alger Funds Mid	Pair Corr
0.95	AGIZX	Alger Growth Income	Pair Corr
0.95	AGIFX	Alger Responsible	Pair Corr
0.9	AGOZX	Alger Small Cap	Pair Corr
0.83	AGSCX	Alger Smallcap Growth	Pair Corr

Moving against Alger Mutual Fund

0.49	AHSAX	Alger Health Sciences	Pair Corr
0.48	AHSCX	Alger Health Sciences	Pair Corr
0.48	AHSZX	Alger Health Sciences	Pair Corr

Related Correlations Analysis

	RERGX	RWMGX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MLGO	MSTSX	LBHIX
RERGX		0.25	0.0	-0.15	0.04	0.0	0.04	0.31	0.5	0.07	RERGX
RWMGX	0.25		0.0	0.52	-0.73	0.0	0.8	-0.48	0.89	0.68	RWMGX
AAVXF	0.0	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	AAVXF
SCRYY	-0.15	0.52	0.0		-0.44	0.0	0.44	-0.43	0.47	0.5	SCRYY
444859BR2	0.04	-0.73	0.0	-0.44		0.0	-0.63	0.52	-0.62	-0.59	444859BR2
AQUI	0.0	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
SCRYX	0.04	0.8	0.0	0.44	-0.63	0.0		-0.45	0.58	0.6	SCRYX
MLGO	0.31	-0.48	0.0	-0.43	0.52	0.0	-0.45		-0.4	-0.76	MLGO
MSTSX	0.5	0.89	0.0	0.47	-0.62	0.0	0.58	-0.4		0.72	MSTSX
LBHIX	0.07	0.68	0.0	0.5	-0.59	0.0	0.6	-0.76	0.72		LBHIX
	RERGX	RWMGX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MLGO	MSTSX	LBHIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MSTSX	+ 0.89	RWMGX
SCRYX	+ 0.8	RWMGX
LBHIX	+ 0.72	MSTSX
LBHIX	+ 0.68	RWMGX
LBHIX	+ 0.6	SCRYX
MSTSX	+ 0.58	SCRYX

High negative correlations

AQUI	- 1.0	AAVXF
LBHIX	- 0.76	MLGO
444859BR2	- 0.73	RWMGX
SCRYX	- 0.63	444859BR2
MSTSX	- 0.62	444859BR2
LBHIX	- 0.59	444859BR2

Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Concentrated 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 Concentrated'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
RERGX	0.61	(0.06)	0.00	1.72	0.00	0.00	1.14	(1.48)	4.02
RWMGX	0.50	(0.03)	(0.07)	0.05	0.61	(0.52)	1.00	(1.14)	3.32
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYY	2.12	0.43	0.13	(1.15)	2.05	(2.81)	5.61	(4.09)	12.99
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
MLGO	7.13	(1.21)	0.00	1.93	0.00	0.00	21.74	(12.50)	61.79
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Alger Concentrated Correlations

Moving together with Alger Mutual Fund

Moving against Alger Mutual Fund

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY