Alger 35 Correlations

Mutual Funds . USA . 
Fund . Alger 35 Fund
ATVPX Fund  USD 20.33  0.26  1.30%   
The current 90-days correlation between Alger 35 Fund and Ultrasmall Cap Profund Ultrasmall Cap is 0.66 (i.e., Poor diversification). The correlation of Alger 35 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 35 Correlation With Market

Poor diversification

The correlation between Alger 35 Fund and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger 35 Fund 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 35 Fund. 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 american community survey.

Moving together with Alger Mutual Fund

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.96AOFAX Alger Small CapPairCorr
  0.95AOFCX Alger Small CapPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  1.0AAGOX Alger Large CapPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.98AASOX Alger Small CapPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.97ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  0.97ACEMX Alger Emerging MarketsPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated Equity Steady GrowthPairCorr
  0.99CNEYX Alger Concentrated Equity Steady GrowthPairCorr
  0.99CNEZX Alger Concentrated Equity Steady GrowthPairCorr
  0.99AFGZX Alger Global GrowthPairCorr
  0.98AFGPX Alger InternationalPairCorr
  0.99AFOZX Alger Funds MidPairCorr
  0.99AGIRX Alger Midcap GrowthPairCorr
  0.99AGIFX Alger ResponsiblePairCorr
  0.96AGOZX Alger Small CapPairCorr
  0.99AGSCX Alger Smallcap GrowthPairCorr
  0.98AIEMX Alger Emerging MarketsPairCorr
  0.98AIGOX Alger Growth IncomePairCorr
  0.98AISZX Alger Smallcap GrowthPairCorr
  0.98SPECX Alger SpectraPairCorr
  0.97SPEDX Alger Dynamic OpportPairCorr
  0.99SPEGX Alger ResponsiblePairCorr
  1.0ALARX 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 35 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 35'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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