Alger Emerging Correlations

Mutual Funds . USA . 
Fund . Alger Emerging Markets
AIEMX Fund  USD 11.97  0.03  0.25%   
The current 90-days correlation between Alger Emerging Markets and Pace Municipal Fixed is -0.26 (i.e., Very good diversification). The correlation of Alger Emerging 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 Emerging Correlation With Market

Very poor diversification

The correlation between Alger Emerging Markets and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Alger Mutual Fund

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.98AMGOX Alger Mid CapPairCorr
  0.96AOFYX Alger Small CapPairCorr
  0.96AOFIX Alger Small CapPairCorr
  0.96AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  1.0AAEMX Alger Emerging MarketsPairCorr
  0.97AAGOX Alger Large CapPairCorr
  0.97AAICX Alger Ai EnablersPairCorr
  0.97AAIZX Alger Ai EnablersPairCorr
  0.97AAIYX Alger Mid CapPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.98ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.97ASIRX Alger Smallcap GrowthPairCorr
  0.97ASIMX Alger Smidcap FocusPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  0.97ASPCX Alger SpectraPairCorr
  0.97ASPZX Alger SpectraPairCorr
  0.97ASPYX Alger SpectraPairCorr
  0.97ASPIX Alger SpectraPairCorr
  0.97ASYMX Alger Weatherbie SpePairCorr
  0.97ABLOX Alger Balanced PortfolioPairCorr
  0.97ACAYX Alger Capital ApprecPairCorr
  0.97ACAZX Alger Capital ApprecPairCorr
  0.97ACARX Alger Capital ApprecPairCorr
  0.97ACAAX Alger Capital ApprecPairCorr
  0.96ATVPX Alger 35 FundPairCorr
  1.0ACEMX Alger Emerging MarketsPairCorr
  0.97ACIZX Alger Capital ApprecPairCorr
  0.94ADOCX Alger Dynamic OpportPairCorr
  0.94ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  0.97CNEYX Alger Concentrated EquityPairCorr
  0.97CNEZX Alger Concentrated EquityPairCorr
  0.99AFGZX Alger Global GrowthPairCorr
  0.99AFGPX Alger InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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