Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ACAZX Fund  USD 42.66  0.31  0.73%   
The current 90-days correlation between Alger Capital Apprec and Black Oak Emerging is 0.05 (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 0.01 (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

  0.87AMGAX Alger Midcap GrowthPairCorr
  0.87AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.74AOFAX Alger Small CapPairCorr
  0.84AOFCX Alger Small CapPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  1.0AAGOX Alger Large CapPairCorr
  0.86ASCZX Alger Smallcap GrowthPairCorr
  0.75AASOX Alger Small CapPairCorr
  0.97ASIMX Alger Smidcap FocusPairCorr
  0.84ASMZX Alger Smidcap FocusPairCorr
  0.77ASPCX Alger SpectraPairCorr
  0.77ASPZX Alger SpectraPairCorr
  0.76ASPYX Alger SpectraPairCorr
  0.86ASPIX Alger SpectraPairCorr
  0.84ABLOX Alger Balanced PortfolioPairCorr
  0.68ACEMX Alger Emerging MarketsPairCorr
  0.85ADOCX Alger Dynamic OpportPairCorr
  0.85ADOZX Alger Dynamic OpportPairCorr
  0.86CNEIX Alger Concentrated EquityPairCorr
  0.86CNEYX Alger Concentrated EquityPairCorr
  0.86CNEZX Alger Concentrated EquityPairCorr
  0.86AFGZX Alger Global GrowthPairCorr
  0.68AFGPX Alger InternationalPairCorr
  0.75AFOZX Alger Funds MidPairCorr
  0.87AGIRX Alger Midcap GrowthPairCorr
  1.0AGIFX Alger ResponsiblePairCorr
  0.75AGOZX Alger Small CapPairCorr
  0.85AGSCX Alger Smallcap GrowthPairCorr
  0.72AIEMX Alger Emerging MarketsPairCorr
  0.84AIGOX Alger Growth IncomePairCorr
  0.74AISZX Alger Smallcap GrowthPairCorr
  1.0SPECX Alger SpectraPairCorr
  0.85SPEDX Alger Dynamic OpportPairCorr
  0.76SPEGX 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 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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