Alger Global Correlations

Mutual Funds USA . 
Fund . Alger Global Growth
AFGZX Fund  USD 31.73  0.26  0.83%   
The current 90-days correlation between Alger Global Growth and Ab Global Risk is -0.32 (i.e., Very good 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

Very good diversification

The correlation between Alger Global Growth and DJI is -0.27 (i.e., Very good 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 nation.

Moving together with Alger Mutual Fund

  0.88FNFPX American Funds NewPairCorr
  0.88FFPNX American Funds NewPairCorr
  0.88NPFCX New PerspectivePairCorr
  0.88ANWPX New PerspectivePairCorr
  0.88NPFFX New PerspectivePairCorr
  0.88CNPAX New PerspectivePairCorr
  0.88CNPEX New PerspectivePairCorr
  0.88CNPFX New PerspectivePairCorr
  0.88CNPCX New PerspectivePairCorr
  0.88RNPAX New PerspectivePairCorr
  0.84FSMMX Fs Multi StrategyPairCorr
  0.81BTMPX Ishares Msci EafePairCorr
  0.81BTMKX Blackrock InternationalPairCorr
  0.81MDIIX Blackrock Intern IndexPairCorr
  0.67SPMPX Invesco Steelpath MlpPairCorr
  0.68MLPNX Oppenheimer Steelpath MlpPairCorr
  0.66MLPMX Oppenheimer Steelpath MlpPairCorr
  0.66SPMJX Invesco Steelpath MlpPairCorr
  0.75AISTX Limited DurationPairCorr
  0.78RRSVX Rbc Small CapPairCorr
  0.8HERSX Hartford Emerging MarketsPairCorr
  0.68T ATT IncPairCorr
  0.83AA Alcoa CorpPairCorr
  0.64INTC IntelPairCorr
  0.63CVX Chevron CorpPairCorr
  0.73AXP American ExpressPairCorr
  0.77DIS Walt DisneyPairCorr
  0.81PFE Pfizer IncPairCorr
  0.75IBM International BusinessPairCorr
  0.82DD Dupont De NemoursPairCorr
  0.81CAT CaterpillarPairCorr
  0.79CSCO Cisco SystemsPairCorr

Moving against Alger Mutual Fund

  0.35MCD McDonaldsPairCorr

Related Correlations Analysis

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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   
QMORX
+ 1.0
AMONX
CMACX
+ 0.99
UPAAX
CMACX
+ 0.99
AMONX
CMACX
+ 0.99
QMORX
CMACX
+ 0.98
CBSYX
AMONX
+ 0.98
UPAAX
  
High negative correlations   
LSAAX
- 0.19
CBSYX
CMACX
- 0.14
LSAAX
LSAAX
- 0.14
AMONX
QMORX
- 0.13
LSAAX
LSAAX
- 0.04
UPAAX

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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