Alger Weatherbie Correlations

Mutual Funds . USA . 
Fund . Alger Weatherbie Specialized
ASYMX Fund  USD 14.18  0.10  0.70%   
The current 90-days correlation between Alger Weatherbie Spe and Alger Midcap Growth is -0.04 (i.e., Good diversification). The correlation of Alger Weatherbie 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 Weatherbie Correlation With Market

Significant diversification

The correlation between Alger Weatherbie Specialized and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Weatherbie Specialized 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 Weatherbie Specialized. 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

  0.96AMGAX Alger Midcap GrowthPairCorr
  0.95AMGOX Alger Mid CapPairCorr
  0.93AOFAX Alger Small CapPairCorr
  0.92AOFCX Alger Small CapPairCorr
  0.96AAGOX Alger Large CapPairCorr
  0.94ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.96ASIMX Alger Smidcap FocusPairCorr
  0.98ASMZX Alger Smidcap FocusPairCorr
  0.96ASPCX Alger SpectraPairCorr
  0.96ASPZX Alger SpectraPairCorr
  0.96ASPIX Alger SpectraPairCorr
  0.94ABLOX Alger Balanced PortfolioPairCorr
  0.96ACAZX Alger Capital ApprecPairCorr
  0.94ACEMX Alger Emerging MarketsPairCorr
  0.96ADOCX Alger Dynamic OpportPairCorr
  0.96ADOZX Alger Dynamic OpportPairCorr
  0.97CNEIX Alger Concentrated EquityPairCorr
  0.95AFGZX Alger Global GrowthPairCorr
  0.94AFOZX Alger Funds MidPairCorr
  0.96AGIRX Alger Midcap GrowthPairCorr
  0.96AGIFX Alger ResponsiblePairCorr
  0.9AGOZX Alger Small CapPairCorr
  0.95AGSCX Alger Smallcap GrowthPairCorr
  0.94AIEMX Alger Emerging MarketsPairCorr
  0.94AIGOX Alger Growth IncomePairCorr
  0.96ALARX Alger Capital ApprecPairCorr
  0.97ALAFX Alger Capital ApprecPairCorr
  0.94ALCZX Alger InternationalPairCorr
  0.96ALCFX Alger Capital ApprecPairCorr
  0.95ALMRX Alger Midcap GrowthPairCorr
  0.97ALMAX Alger Smidcap FocusPairCorr
  0.94ALSAX Alger Smallcap GrowthPairCorr
  0.94ALSCX Alger Smallcap GrowthPairCorr
  0.93ALSRX Alger Smallcap GrowthPairCorr
  0.96ALVOX Alger Capital ApprecPairCorr
  0.96ALZFX 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 Weatherbie 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 Weatherbie'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMGAX  0.90  0.35  0.15 (1.28) 0.74 
(0.99)
 2.53 
(1.30)
 5.74 
AMGCX  0.90  0.35  0.15 (1.24) 0.78 
(1.00)
 2.55 
(1.29)
 5.75 
AMGOX  0.90  0.21  0.16  0.34  0.71 
(0.98)
 2.62 
(1.40)
 5.79 
AOFYX  1.07  0.25  0.08 (1.68) 1.02 
(1.23)
 2.58 
(2.14)
 6.55 
AOFIX  1.07  0.25  0.08 (1.61) 0.99 
(1.19)
 2.61 
(2.11)
 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  0.65  0.31  0.20 (1.98) 0.26 
(0.78)
 1.99 
(1.16)
 3.93 
CHUCX  0.62  0.18  0.19  0.38  0.20 
(0.75)
 2.01 
(1.00)
 3.89 
AAEMX  0.53  0.24  0.15 (15.39) 0.00 
(0.68)
 1.81 
(1.11)
 4.01 

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