Alger Funds Correlations

Mutual Funds . USA . 
Fund . Alger Funds Mid
AFOZX Fund  USD 19.07  0.23  1.22%   
The current 90-days correlation between Alger Funds Mid and Alger Midcap Growth is -0.1 (i.e., Good diversification). The correlation of Alger Funds 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 Funds Correlation With Market

Good diversification

The correlation between Alger Funds Mid and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Funds Mid 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 Funds Mid. 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

  0.74AMGAX Alger Midcap GrowthPairCorr
  0.72AMGCX Alger Midcap GrowthPairCorr
  0.76AMGOX Alger Mid CapPairCorr
  0.73AOFYX Alger Small CapPairCorr
  0.74AOFIX Alger Small CapPairCorr
  0.98AOFAX Alger Small CapPairCorr
  0.98AOFCX Alger Small CapPairCorr
  0.7CHUSX Alger Global GrowthPairCorr
  0.77CHUCX Alger Global GrowthPairCorr
  0.67AAEMX Alger Emerging MarketsPairCorr
  0.75AAGOX Alger Large CapPairCorr
  0.97AAICX Alger Ai EnablersPairCorr
  0.66AAIYX Alger Mid Cap Steady GrowthPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.98ASCZX Alger Smallcap GrowthPairCorr
  0.65AASOX Alger Small CapPairCorr
  0.99ASIRX Alger Smallcap GrowthPairCorr
  0.77ASIMX Alger Smidcap FocusPairCorr
  0.68ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.98ASPYX Alger SpectraPairCorr
  0.68ASPIX Alger SpectraPairCorr
  0.96ASYMX Alger Weatherbie SpePairCorr
  0.65ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAYX Alger Capital ApprecPairCorr
  0.98ACAZX Alger Capital ApprecPairCorr
  0.99ACARX Alger Capital ApprecPairCorr
  0.99ACAAX Alger Capital ApprecPairCorr
  0.69ATVPX Alger 35 Fund Steady GrowthPairCorr
  0.97ACEMX Alger Emerging MarketsPairCorr
  0.98ACIZX Alger Capital ApprecPairCorr
  0.74ADOCX Alger Dynamic OpportPairCorr
  0.74ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.99CNEYX Alger Concentrated EquityPairCorr
  0.99CNEZX Alger Concentrated EquityPairCorr
  0.7AFGZX Alger Global GrowthPairCorr
  0.98AFGPX Alger InternationalPairCorr
  0.99AFGIX Alger Global GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Funds 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 Funds' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMGAX  0.88  0.25  0.23  0.41  0.48 
(1.02)
 2.53 
(1.15)
 5.74 
AMGCX  0.86  0.28  0.25  0.50  0.44 
(1.02)
 2.55 
(1.15)
 5.75 
AMGOX  0.86  0.41  0.27 (25.87) 0.35 
(1.00)
 2.62 
(1.14)
 5.79 
AOFYX  1.05  0.17  0.13  0.30  0.83 
(1.26)
 2.58 
(1.89)
 6.55 
AOFIX  1.06  0.16  0.13  0.29  0.84 
(1.22)
 2.61 
(1.85)
 6.55 
AOFAX  1.11  0.25  0.08 (1.71) 1.06 
(1.27)
 2.57 
(2.13)
 6.54 
AOFCX  1.07  0.25  0.07 (1.59) 1.02 
(1.19)
 2.61 
(2.11)
 6.66 
CHUSX  0.62  0.25  0.32  0.56  0.00 
(0.79)
 1.99 
(0.77)
 3.93 
CHUCX  0.59  0.32  0.32  153.24  0.00 
(0.77)
 2.01 
(0.75)
 3.89 
AAEMX  0.50  0.17  0.16  0.53  0.00 
(0.65)
 1.81 
(0.86)
 4.01 

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