Alger Large Correlations

Mutual Funds . USA . 
Fund . Alger Large Cap
AAGOX Fund  USD 98.61  0.27  0.27%   
The current 90-days correlation between Alger Large Cap and Wells Fargo Diversified is 0.94 (i.e., Almost no diversification). The correlation of Alger Large 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 Large Correlation With Market

Very poor diversification

The correlation between Alger Large Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Large Cap 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 Large Cap. 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 persons.

Moving together with Alger Mutual Fund

  0.99AMGAX Alger Midcap Growth Potential GrowthPairCorr
  0.99AMGCX Alger Midcap Growth Potential GrowthPairCorr
  0.99AMGOX Alger Mid Cap Potential GrowthPairCorr
  0.97AOFAX Alger Small CapPairCorr
  0.97AOFCX Alger Small CapPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.99AASOX Alger Small CapPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.98ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  0.97ACEMX Alger Emerging MarketsPairCorr
  0.98ADOCX Alger Dynamic OpportPairCorr
  0.98ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.99AFGZX Alger Global GrowthPairCorr
  0.97AFGPX Alger InternationalPairCorr
  0.99AFOZX Alger Funds MidPairCorr
  0.99AGIRX Alger Midcap GrowthPairCorr
  1.0AGIFX Alger ResponsiblePairCorr
  0.97AGOZX Alger Small CapPairCorr
  0.99AGSCX Alger Smallcap GrowthPairCorr
  0.72AHSCX Alger Health SciencesPairCorr
  0.73AHSAX Alger Health SciencesPairCorr
  0.74AHSZX Alger Health SciencesPairCorr
  0.97AIEMX Alger Emerging MarketsPairCorr
  0.98AIGOX Alger Growth IncomePairCorr
  0.99AISZX Alger Smallcap GrowthPairCorr
  1.0SPECX Alger SpectraPairCorr
  0.98SPEDX Alger Dynamic OpportPairCorr
  1.0SPEGX Alger ResponsiblePairCorr
  1.0ALARX Alger Capital ApprecPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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