Alger Midcap Correlations

Mutual Funds . USA . 
Fund . Alger Midcap Growth
AMGAX Fund  USD 16.72  0.19  1.15%   
The current 90-days correlation between Alger Midcap Growth and Siit Emerging Markets is -0.01 (i.e., Good diversification). The correlation of Alger Midcap 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 Midcap Correlation With Market

Almost no diversification

The correlation between Alger Midcap Growth and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Midcap 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 Midcap 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

  0.98AOFYX Alger Small CapPairCorr
  0.98AOFAX Alger Small CapPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  0.98AAEMX Alger Emerging MarketsPairCorr
  0.99AAGOX Alger Large CapPairCorr
  0.99AAIZX Alger Ai EnablersPairCorr
  0.99AAIYX Alger Mid CapPairCorr
  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
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.98ASYMX Alger Weatherbie SpePairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.99ACARX Alger Capital ApprecPairCorr
  0.99ACAAX Alger Capital ApprecPairCorr
  0.99ATVPX Alger 35 FundPairCorr
  0.99ACIZX Alger Capital ApprecPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.99AFGIX Alger Global GrowthPairCorr
  1.0AGIRX Alger Midcap GrowthPairCorr
  0.99AGSCX Alger Smallcap GrowthPairCorr
  0.98AZEMX Alger Emerging MarketsPairCorr
  0.68AHSCX Alger Health SciencesPairCorr
  0.71AHSZX Alger Health SciencesPairCorr
  0.98AIEMX Alger Emerging MarketsPairCorr
  0.99SPECX Alger SpectraPairCorr
  0.97SPEDX Alger Dynamic OpportPairCorr
  0.98ALBAX Alger Growth IncomePairCorr
  0.99ALARX Alger Capital ApprecPairCorr
  0.99ALAFX Alger Capital ApprecPairCorr
  0.99ALCCX 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 Midcap 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 Midcap'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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