Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ACAAX Fund  USD 37.76  0.05  0.13%   
The current 90-days correlation between Alger Capital Apprec and Old Westbury Large is 0.01 (i.e., Significant diversification). The correlation of Alger Capital 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 Capital Correlation With Market

Significant diversification

The correlation between Alger Capital Appreciation and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Capital Appreciation 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 Capital Appreciation. 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

  0.99AMGAX Alger Midcap Growth Potential GrowthPairCorr
  0.99AMGCX Alger Midcap Growth Potential GrowthPairCorr
  0.99AMGOX Alger Mid Cap Potential GrowthPairCorr
  0.97AOFYX Alger Small CapPairCorr
  0.97AOFIX Alger Small CapPairCorr
  0.97AOFAX Alger Small CapPairCorr
  0.97AOFCX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  0.98AAEMX Alger Emerging MarketsPairCorr
  1.0AAGOX Alger Large CapPairCorr
  1.0AAICX Alger Ai EnablersPairCorr
  1.0AAIYX Alger Mid CapPairCorr
  0.99ASCYX Alger FundsPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.99AASOX Alger Small CapPairCorr
  0.99ASIRX Alger Smallcap GrowthPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.98ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.98ASYMX Alger Weatherbie SpePairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  1.0ATVPX Alger 35 FundPairCorr
  0.98ACEMX Alger Emerging MarketsPairCorr
  1.0ACIZX Alger Capital ApprecPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  0.92CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.99AFGZX Alger Global GrowthPairCorr
  0.99AFOIX Alger Mid CapPairCorr
  0.99AFOZX Alger Funds MidPairCorr
  0.72AGFCX Alger ResponsiblePairCorr
  0.99AGIRX Alger Midcap Growth Potential GrowthPairCorr
  1.0AGIFX Alger ResponsiblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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